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TMI Blog2019 (9) TMI 1124X X X X Extracts X X X X X X X X Extracts X X X X ..... dicating Authority) Rules, 2016. The prayer made is to admit the Application, to initiate the Corporate Insolvency Resolution Process against the Corporate Debtor, declare moratorium and appoint Interim Resolution Professional (IRP) under the Insolvency and Bankruptcy Code, 2016 (I&B Code). 2. As seen from the record, notice has been sent by the Registry and the Operational Creditor at two different addresses of the Corporate Debtor given in the Application, but the notice sent at the 2nd address has been served. In spite of the receipt of notice, there was no representation on behalf of the Corporate Debtor. Therefore, the Corporate Debtor was proceeded ex parte on 14.03.2019. 3. Heard the Counsel for the Operational Creditor and perused ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DFC Bank are placed at pages 53 to 55 of the typed set filed with the Application. The Corporate Debtor failed to return even the Rental Equipments given by the Operational Creditor on rent. 7. The Operational Creditor had issued a Demand Notice dated 08.11.2018 under Section 8 of the I&B Code, 2016 to the Corporate Debtor, copy of which is placed at pages 11 to 15 of the typed set filed with the Application wherein the particulars of the operational debt due including the Cheque details are mentioned, which has been delivered at one of the addresses of the Corporate Debtor on 20.11.2018. The postal receipts of sending the notice and delivery thereof are placed at pages 16 to 20 of the typed set filed with the Application. But no reply has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arbitration panel or other authority; (b) Transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) Any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); (d) The recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 11. The supply of essential goods or services of the Corporate Debtor shall not be terminated or suspended or interrupted during moratorium pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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