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TMI Blog2017 (6) TMI 1314X X X X Extracts X X X X X X X X Extracts X X X X ..... e debt due to various financial institutions to the extent of ₹ 463.99 crores as disclosed in the petition is in default - this shows that there are debts which are in default. This Bench is of the view that the corporate debtor has cornmitted a default and the petition contains the particulars as required u/s 10 of the Code - Hence, this Bench hereby admits this petition, declaring moratorium with consequential directions. Petition admitted - moratorium declared. - C. P. NO. 1053/I & BP/NCLT/MAH/2017 - - - Dated:- 16-6-2017 - B.S.V. Prakash Kumar, Member (Judicial) And V. Nallasenapathy, Member (Technical) Applicants' Counsel: Mr. Nilesh Sharma a/w Ashish Pyasi, Advocates for the Applicant i/b. Dhir Dhir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding against her. 4. The Corporate Debtor has disclosed that it owes a sum of ₹ 463.99 crores to various Financial Creditors in annexure-V to the application. The Corporate Debtor has also enclosed documents to show that mortgages and charges were created in favour of the Financial Creditors in terms of certificate of registration of mortgage, etc. under Section 132 of the Companies Act 1956 issued by the office of the Registrar of Companies, Maharashtra. Further, the Corporate Debtor has enclosed the sanction letters issued by various Financial Institutions sanctioning facilities in favour of the Corporate Debtor. 5. The Corporate Debtor has enclosed a legal notice dated 27.12.2012 issued by Bank of India, Mumbai Mi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lars as required u/s 10 of the Code. Hence, this Bench hereby admits this petition, declaring moratorium with consequential directions as mentioned below: (i) That this Bench hereby prohibits 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; transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; 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 Rec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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