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TMI Blog2018 (5) TMI 1893X X X X Extracts X X X X X X X X Extracts X X X X ..... mpletion of the Insolvency Resolution Process or until the approval of the Resolution Plan prescribed under Section 31 of the Code. That as prescribed under Section 13 of the Code on declaration of Moratorium the next step of Public Announcement of the Initiation of Corporate Insolvency Resolution Process shall be carried out by the IRP immediately on appointment, as per the provisions of the Code. Petition is hereby Admitted . - CP No. 1562/IBC/NCLT/MB/MAH/2017 - - - Dated:- 22-5-2018 - M.K. SHRAWAT, JUDICIAL MEMBER For the Appellant : Rohan Janardhan, Adv. For the Respondent : None ORDER 1. M/s. Percula Shiipping and Trading Inc. (hereinafter as Operational Creditor) has furnished ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he copy of the said e-mail is annexed with the Petition/Application. 7. It is further stated that, till Sep. 2017 the Debtor has not repaid the amount hence, feeling aggrieved the Operational Creditor has issued a Demand Notice u/s. 8 of the Code demanding the outstanding unpaid amount from the Debtor on 27.09.2017. 8. It is further submitted that, this Notice has been duly served upon the Debtor but the Debtor has neither replied to the notice nor repaid the claimed amount. Hence, the Operational Creditor has filed this Petition/Application. 9. It is further stated that, the Operational Creditor has time and again informed the Debtor about the hearing of this Petition/Application through a written notice but the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idavit of Service placed on record by the Operational Creditor and found that, the Notice of Hearing which was sent by the Advocate of the Operational Creditor has returned back marked as Refused . Hence, this can be treated as Sufficient Service. 14. As a consequence, after the expiry of the period as prescribed and keeping admitted facts in mind that, the Operational Creditor had not received the outstanding Debt from the Debtor and that the formalities as prescribed under The Code have been completed by the Petitioner/Applicant it is my conscientious view that this Petition deserves 'Admission' specially where the Debtor has not remained present for the hearing. 15. The Operational Creditor has proposed the nam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Insolvency Resolution Process or until the approval of the Resolution Plan prescribed under Section 31 of the Code. 18. That as prescribed under Section 13 of the Code on declaration of Moratorium the next step of Public Announcement of the Initiation of Corporate Insolvency Resolution Process shall be carried out by the IRP immediately on appointment, as per the provisions of the Code. 19. The appointed IRP shall also comply the other provisions of the Code including Section 15 and Section 18 of The Code. Further the IRP is hereby directed to inform the progress of the Resolution Plan to this Bench and submit a compliance report within 30 days of the appointment. A liberty is granted to intimate even at an early date, if ..... X X X X Extracts X X X X X X X X Extracts X X X X
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