9911796707
TMI Blog2019 (12) TMI 1140X X X X Extracts X X X X X X X X Extracts X X X X ..... ngh Pal. A copy of authorised letter dated 01.12.2018 and power of attorney dated 19.08.1998 is annexed as Annexure A-1. 3. Notice was sent to the respondent, however, the same was returned with an endorsement "refused". Notice, by way of publication was also taken out in English Newspaper "Hitavada" and also Vernacular Newspaper "Patrik Citizen", since there is no representation, the respondent was called absent and set ex parte on 15.09.2019. 4. This application was originally filed before NCLT Mumbai numbered as CP IB 4686/MB/2018 after constitution of this Bench the same was transferred and re-numbered as TP No. 198/CTB/2019. 5. M/s. Tayal Foods Limited is Company incorporated under Companies Act, 1956, CIN No: U15313CT2008PLC02096. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proposed IRP. 9. The outstanding amount due and payable to applicant is sum of Rs. 10,26,54000/- (Ten Crores Twenty-Six Thousand Fifty-Four Thousand Only) as on 31.03.2018. The debt and default are proved beyond reasonable doubts. Hence, we are inclined to ADMIT this application. ORDER (i) The application filed by the Financial Creditor under Section 7 of the Insolvency & Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against the Corporate Debtor, Tayal Foods Limited is hereby admitted. (ii) We declare a moratorium and public announcement in accordance with Sections 13 and 15 of the Insolvency & Bankruptcy Code, 2016. (iii) Moratorium is declared for the purpose referred to in Section 14 of the Insolven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ansactions may be notified by the Central Government in consultation with any Financial Sector Regulator. (vii) The order of moratorium shall have effect from the date of admission till the completion of the Corporate Insolvency Resolution Process. (viii) Provided that where at any time during the Corporate Insolvency Resolution Process period, if the Adjudicating Authority approves the Resolution Plan under sub-Section (1) of Section 31 or passes an order for liquidation of Corporate Debtor under Section 33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be. (ix) Necessary public announcement as per Section 15 of the Insolvency & Bankruptcy Code, 2016 may be made. (x) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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