9911796707
TMI Blog2019 (9) TMI 1122X X X X Extracts X X X X X X X X Extracts X X X X ..... A/64/2019 - - - Dated:- 2-5-2019 - MR B.S.V. PRAKASH KUMAR, MEMBER (JUDICIAL) AND MR S. VIJAYARAGHAVAN, MEMBER (TECHNICAL) For The Operational Creditor : Mr E. K. Kumaresan, Advocate And Mr G. Prabhu, Advocate For The Corporate Debtor : None-Present on the date of hearing ORDER Per : S. Vijayaraghavan, Member (Technical) Matter under consideration is a Company Petition filed by M/s. Madras Steels Tubes (in short Operational Creditor ) against M/s. Pree Aag Fire Systems Private Limited (for brevity, Corporate Debtor ) under Section 9 of the Insolvency and Bankruptcy Code, 2016 stating that on the purchase orders, the Operational Creditor s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. On perusal of the material documents placed before this Bench, it is seen that the counsel appearing on behalf of the Corporate Debtor has not disputed any of the facts mentioned in this Company petition nor has any reply been given to Section 8 Notice. It is clear that the invoices are reflecting supply of goods and also demand for payment towards the goods supplied to the Corporate Debtor herein. Apart from this, the Operational Creditor has filed Bank Statement of Accounts showing that there has been no payment of unpaid operational debt by Corporate Debtor for the period from 01.09.2018 to 30.09.2018 (page 38). Since the Operational Creditor having furnished the proof to establish that debt and default are in existence, for there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... suspended or interrupted during moratorium period. III. That the provisions of Sub-section (1) of Section 14 of IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. IV. That the order of moratorium shall have effect from the date of issue of order till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-section (1) of section 31 of IBC or passes an order for liquidation of Corporate Debtor under section 33 of IBC, as the case may be. V. That the public announcement of the Corporate Insolvency Resolution Process shall be made immediately ..... X X X X Extracts X X X X X X X X Extracts X X X X
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