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TMI Blog2019 (10) TMI 106X X X X Extracts X X X X X X X X Extracts X X X X ..... eaning of sub-section (5) of Section 20 of the Code. The petitioner is able to establish that there exists debt as well as occurrence of default - thus, the Application filed by the Applicant is complete in all respects. Application admitted - moratorium declared. - C.P. (IB) No. 181/9/NCLT/AHM/2019 - - - Dated:- 10-7-2019 - MS. MANORAMA KUMARI, MEMBER (J) For The Petitioner : Raju Kothari, Advocate For The Respondent : Harmish Shah, Advocate ORDER 1. That, the instant application is filed by Mr. Dhirendra Sheth, under Section 9 of the Insolvency and Bankruptcy Code, 2016 [hereinafter referred to as the Code ] read with Rule 6 of the Insolvency Bankrup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... documents in support of the claim: - Sr. No. Particulars Page No. 01 Demand notice dated 25.01.2019 8-29 02 Appointment letter dated 05.04.2017 30-32 03 Chart showing details of salary outstanding 33 04 Letter dated 28.12.2018 addressed to the company by the applicant 34 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on behalf of the respondent also fairly admitted that the respondent company is unable to make payment to the petitioner. Findings: 7. On perusal of the record, it is found that the petitioner was appointed in the respondent company vide appointment letter dated 05.04.2017, and he has been looking after the affairs of the company. That, despite assurance given by the respondent company vide letter dated 01.01.2019, outstanding salary of the applicant has not been given so far. 8. While examining an application under Section 9 of the Act, will have to determine the following: - (i) Whether there is an operational debt as defined exceeding ₹ 1.00 lac (See Section 4 of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional 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. 11. That, the Application filed by the Applicant is complete in all respects. 12. The applicant/operational creditor has not proposed the name of Interim Insolvency Professional. This adjudicating Authority hereby appoint Shri Manish Kumar Bhagat, 103-104 Panchdeep Complex, Mithakhali Six Road, Navrangpura, Ahmedabad ([email protected] having registration No. IBBI/IPA-001/IP-P00856/2017-2018/11438 to act as an interim resolution professional under Section 13(l)(c) of the Code. 13. Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ets 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. 16. 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-section (1) shal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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