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TMI Blog2019 (9) TMI 1189X X X X Extracts X X X X X X X X Extracts X X X X ..... erred to as "the Code"] read with Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 to trigger Insolvency Resolution Process against M/s. Ashapuri Metals Private Limited (hereinafter called as respondent/corporate debtor). 2. That, the applicant/operational creditor M/r. Alkesh Govindbhai Patel, Vrundavan Fadiyu, At and Post Popda, Taluka Choryasi, Surat 394 235, Gujarat State is engaged in the business of providing labour services such as melting labour of copper wire and brass ingot. 3. That, the respondent/corporate debtor M/s. Ashapuri Metals Private Limited is a company incorporated under the Companies Act, 1956 on 12.03.2001 and having its registered office at Plot No. 705, Road No. 7, GIDC, S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... address. 6. The applicant has submitted copies of the following documents in support of the claim: - Sr. No. Particulars Page No. 01 Master data of the corporate debtor 8 02 True copy of ledger account of corporate debtor 37 03 Tax invoices 38-45 04 Bank statement 46-58 05 First legal notice dated 13.09.2018 along with postal slips 59-79 06 Transaction receipt for the online payment of application fee of Rs. 2,000/- 80 07 Affidavit of the applicant under section 9(3) of IB Code. 81-84 Findings: 7. On perusal of the record, it is found that learned lawyer appearing on behalf of the respondent filed an affidavit admitting the outstanding amount of Rs. 6,92,043.00 stating that appropriate order may be passed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 38 to 45 to the application. That, service is complete and no dispute has been raised by the respondent. That, Applicant is an Operational Creditor within the meaning of sub-section (5) of Section 20 of the Code. From the aforesaid material on record, petitioner is able to establish that there exists debt as well as occurrence of default. 12. That, the Application filed by the Applicant is complete in all respects. 13. The applicant/operational creditor has proposed the name of Mr. Kailash T. Shah to act as Interim Insolvency Professional. This Adjudicating Authority hereby appoint Mr. Kailash T. Shah, 505, 21st Century Business Centre, Near World Trade, Ring Road, Surat 395 0023 ([email protected]') having registration No. IBBI/IPA- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (iii) 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); (iv) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 17. It is further directed that the supply of goods and essential services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. The provisions of sub-s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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