9911796707
TMI Blog2019 (8) TMI 1189X X X X Extracts X X X X X X X X Extracts X X X X ..... ad with rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for brevity 'the Rules') with a prayer to trigger Corporate Insolvency Resolution Process in respect of respondent Cargo Planners Limited (for brevity the 'corporate debtor'). It is appropriate to mention that the 'operational creditor' is a company incorporated under the provisions of the Companies Act, 1956. 2. The Corporate Debtor Cargo Planners Limited was incorporated on 22.09.2000 under the provisions of the Companies Act, 1956. The identification number of the Corporate Debtor given is CIN U63013DL2000PLC107868. 3. It is submitted by the petitioner that it had rendered AIR Freight Services to the Respondent- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y have been placed on record [Annexure- 5 (Colly)]. It is further submitted that no reply was received by the respondent-corporate debtor to the said notice within the statutory 10 days time as prescribed. 8. A reply to the petition has been filed by the respondent and a rejoinder has also been filed by the petitioner. The respondent- corporate debtor has pointed out certain defects in the petition and the same have been successfully controverted by the petitioner- operational creditor. Further, the respondent has submitted that complaint under Sections 138 and 139 read with Sections 141 and 142 of the Negotiable Instruments Act, 1881 is pending consideration before the Patiala House Court, New Delhi and therefore there is an existence of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Interim Resolution Professional. He has filed his written communication as per the requirement of Rule 9(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 along with the certificate of registration. 10. We also declare moratorium in terms of Section 14 of the Code. It is made clear that the provisions of moratorium are not to apply to transactions which might be notified by the Central Government and a surety in a contract of guarantee to a corporate debtor. Additionally, the supply of essential goods or services to the Corporate Debtor as may be specified is not to be terminated or suspended or interrupted during the moratorium period. These would include supply of water, electricity and similar othe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st is alleged to be exorbitant and allegations are levelled that a penal interest compounded monthly has been charged. We have no mechanism of rectification of claims made. However the RPs ordinarily have professionals & exports at their disposal and in case the ex-management raises any such issue then the RP must get it settled in order to avoid any injustice to the corporate debtor.
15. The office is directed to communicate a copy of the order to the Operational Creditor, the Corporate Debtor and the Interim Resolution Professional at the earliest but not later than three days from today. A copy of this order be also sent to the ROC for updating the Master Data. ROC shall send compliance report to the Registrar, NCLT. X X X X Extracts X X X X X X X X Extracts X X X X
|
