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TMI Blog2019 (6) TMI 132X X X X Extracts X X X X X X X X Extracts X X X X ..... o the Applicant from the Respondent is in respect of supply of goods. Therefore, the amount claimed by the Applicant from the Respondent is operational debt within the meaning of Section 5, sub-section (21) of the Code. The operational debt is due to the Applicant. Therefore, Applicant is an Operational Creditor within the meaning of sub-section (5) of Section 20 of the Code. From the aforesaid material on record, petitioner is able to establish that there exists debt as well as occurrence of default. Petition admitted - moratorium declared. - C.P. (IB) No. 117/9/NCLT/AHM/2018 - - - Dated:- 9-4-2019 - MS. MANORAMA KUMARI, MEMBER (J) For The Applicant : Advocate Raju Kothari, Adv. and Anip Gandhi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payment of ₹ 41,738/- on 14.06.2017. That, the applicant is maintaining a running account with the respondent towards the goods supplied from time to time. That, during the pendency of the instant application the respondent company has made payment of ₹ 3,50,000/- in two instalments through RTGS on 21.04.2018 and 24.05.2018. That as on 30.11.2017 the respondent company is indebted to the applicant to the tune of ₹ 20,50,609/- (Rupees twenty lakhs fifty thousand six hundred nine only) which includes principal amount of ₹ 14,33,787/- + interest of ₹ 6,16,822/- at the contractual rate of 18% per annum out of which the corporate debtor paid through RTGS on 21.04.2018 and 24.05.2018 a sum of ₹ 3,50,000/- (Rup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is found that despite of service of notice to the respondent informing the date of hearing, letter of the applicant along with copy of the order was returned unserved with endorsement refused and to that effect of service dated 04.02.2019, affidavit is filed by the applicant. Hence the notice served upon the corporate debtor is complete. Moreover, by way of RTGS the corporate debtor paid an amount of ₹ 3,50,000/- to the applicant during the pendency of the case that itself shows that the case is pending before the NCLT. 7. Heard the arguments of the learned counsel appearing for the applicant. Findings: 8. On perusal of the material available on record it is found that the respond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... istration No. IBBI/IPA-001/IP-P00915/2017-18/11521. Adjudicating Authority is appointing Mrs. Bhavi Shreyans Shah as interim resolution professional u/s 13(l)(b) of the Code. 13. Section 13 of the Code enjoins upon the Adjudicating Authority to exercise its discretion to pass an order to declare a moratorium for the purposes referred to in Section 14, to cause a public announcement of the initiation of corporate insolvency resolution and call for submission of claims as provided under Section 15 of the Code. Sub-section (2) of Section 13 says that public announcement shall be made immediately after the appointment of Interim Insolvency Resolution Professional. 14. Hence, Mrs. Bhavi Shreyans Shah is appointed as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (54 of 2002); (iv) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 17. It is further directed that the supply of goods and essential services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. The provisions of sub-section (1) shall, however, not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. 18. The order of moratorium shall have effect from the date of receipt of authenticated copy of this order till the completion of the corporate insolvency resolution process or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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