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TMI Blog2019 (12) TMI 1140X X X X Extracts X X X X X X X X Extracts X X X X ..... f immovable properties - The loan documents and acknowledgement of debt are filed along with the application. The loan account was declared as non-performing asset on 13.03.2018. Further, claim is also pending in the file of DRT Jabalpur. Hence, the debt is well within the period of limitation. The registered office of the Corporate Debtor is at Raipur, Chhattisgarh. Hence, this Adjudicating Authority has jurisdiction - The outstanding amount due and payable to applicant is sum of ₹ 10,26,54000/- as on 31.03.2018. The debt and default are proved beyond reasonable doubts. Hence, we are inclined to ADMIT this application. Application admitted - moratorium declared. - CP (IB) NO. 4686 (MB) OF 2018, TP NO. 198 (TB) OF 2019 - - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Corporate Debtor availed various financial facilities like working capital, term loan, current account etc with the applicant since 2012. The Corporate Debtor also executed various loan documents in favour of the applicant in July 2014, April, 2015 and March, 2017. However, the Corporate Debtor was unable to repay loan hence, the loan accounts were declared as non-performing asset on 13.03.2018. The loans are secured by way of hypothecation of movables and mortgage of immovable properties. 6. The loan documents and acknowledgement of debt are filed along with the application. The loan account was declared as non-performing asset on 13.03.2018. Further, claim is also pending in O.A. No. 605/2018, in the file of DRT Jabalpur. He ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Resolution Process and calls for the submission of claims under Section 15. The public announcement referred to in Clause (b) of sub-Section (1) of Section 15 of Insolvency Bankruptcy Code, 2016 shall be made immediately. (iv) Moratorium under Section 14 of the Insolvency Bankruptcy Code, 2016 prohibits 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 Pane, or other Authority. (b) Transferring, encumbering, alienating or disposing off by the Corporate Debtor any of its assets or any legal right or beneficial interest therein. (c) Any ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1, Raipur, Chhattisgarh, 492001 and E-mail ID: [email protected] and Registered No. No. IBBI/IPA-001/IP-P00671/2017-2018/11143 is appointed as a Interim Resolution Professional for ascertaining the particulars of creditors and convening a Committee of Creditors for evolving a Resolution Plan. (xi) The Resolution Professional should convene a meeting of the Committee of Creditors and submit the Resolution plan passed by the Committee of Creditors and shall identify the prospective Resolution Applicant within 105 days from the insolvency commencement date. The Interim Resolution Professional is directed to produce Form -2 and written communication within one week from the date of the receipt of the order. (xii) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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