9911796707
TMI Blog2019 (5) TMI 1657X X X X Extracts X X X X X X X X Extracts X X X X ..... e proceeded ex parte. Keeping in view that the averments made by the Operational Creditor stand undemolished and, in the absence of any pre-existing dispute, the prayer of the Operational Creditor merits consideration. Accordingly, the petition is Admitted. The Operational Creditor has not proposed the name of any IRP. Accordingly, we appoint Mr. Vivek Raheja, Registration No. IBBI/IPA- 001 /IP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany for its inability to liquidate its debts. 2. As per averments, it is submitted that the Operational Creditor supplied Manganese Metal and other allied goods to the Corporate Debtor on credit basis from time to time. The Corporate Debtor made part payments and a running account was maintained by the Operational Creditor in respect of the financial dealing. The grievance of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... absence of any pre-existing dispute, the prayer of the Operational Creditor merits consideration. Accordingly, the petition is Admitted. A moratorium in terms of Section 14 of Code comes into effect forthwith, staying: a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not be terminated or suspended or interrupted during moratorium period. (3) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. (4) The order of moratorium shall have effect from the date of such order till the completion of the corporate insolvency resolution proc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... port. 5. The Operational Creditor is directed to deposit a sum of ₹ 2 lakhs to meet the immediate expenses of IRP. The same shall be fully accountable by the IRP and shall be reimbursed by the CoC to the Operational Creditor to be recovered as CIR costs. 6. Copy of the order be communicated to both the parties as well as to the IRP. 7. To come up ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
