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TMI Blog2019 (10) TMI 57X X X X Extracts X X X X X X X X Extracts X X X X ..... complete and the Applicant is entitled to claim its dues which are un-controverted by the Corporate Debtor, establishing the default in payment of the operational debt beyond doubt. Hence, the present application deserves to be admitted. Application admitted - moratorium declared. - Company Petition No. IB-1265/ND/2019 - - - Dated:- 17-7-2019 - DR. DEEPTI MUKESH, MEMBER (Judicial) And SHRI PRADEEP R. SETHI MEMBER (Technical) For The Applicant : Mr. Vaibhav Tyagi, Advocate For The Respondent : Mr. Kunal Godhwani, Advocate; Mr. Mukund Rawat JUDGEMENT DR. DEEPTI MUKESH (J) 1. The present application is filed under section 9 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... supplied LED tube lights and drivers to the corporate debtor and had raised various invoices. The corporate debtor was supposed to make the requisite payments against the respective invoices within 45 days from the delivery of the goods as per the terms of arrangements between the applicant and the corporate debtor. However, the corporate debtor had defaulted to make the requisite payments within the said period. 5. The applicant has stated that on several occasions the applicant issued various emails seeking release of payment against the invoices, however the corporate debtor on one pretext or other kept delaying the payments and did not pay the dues. 6. The applicant has stated that total debt due and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 53 ₹ 6410.88/- Total ₹ 6,77,600/- ₹ 22,512.92/- 7. The Applicant issued a Demand Notice under section 8 of the Code, 2016 dated 26.04.2019 in Form 4 as per the I B Code, 2016 (Under Rule 5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016). The demand notice was duly received by the corporate debtor on 04.05.2019. 8. That on receipt of the demand notice, the corporate debtor issued a reply dated 09.05.2019 to the applicant acknowledging ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In the given facts and circumstances, the present application is complete and the Applicant is entitled to claim its dues which are un-controverted by the Corporate Debtor, establishing the default in payment of the operational debt beyond doubt. Hence, the present application deserves to be admitted. 15. Applicant has named the Interim Resolution Professional (IRP), as Mr. Hemant Sharma having registration number IBBI/IPA-002/IPN00015/ 2016-17/10019 and E-Mail ID [email protected] , duly registered with Insolvency and Bankruptcy Board of India, as the Interim Resolution Professional, whose certificate of registration is also annexed with specific consent filed in Form 2 of Insolvency and Bankruptcy Board of Ind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the provisions of Section 14(1) as extracted hereunder shall follow in relation to the Corporate Debtor prohibiting all of the following: 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 any court of law, tribunal, 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 Securitiza ..... X X X X Extracts X X X X X X X X Extracts X X X X
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