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TMI Blog2020 (1) TMI 303X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Debtor replied admitting the liability that this Corporate Debtor owed to pay ₹ 5,71,515 to the Operational Creditor, but sought additional time to pay this claim to the Operational Creditor. This Operational Creditor has proved existence of debt and default, therefore, this Company Application is admitted by appointing Mr. Senthil Kumar as Insolvency Resolution Professional (IRP) looking at the consent given by the Operational Creditor stating that this Operational Creditor would pay remuneration to the IRP and the expenditure thereto until constitution of CoC. Application admitted - moratorium declared. - IBA NO. 728 Of 2019 - - - Dated:- 30-8-2019 - B.S.V. Prakash Kumar, Judicial Member And S. Vijayaraghavan, Techn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Council, Bhopal, upon which, an award was passed on 23.03.2018 holding that the Corporate Debtor shall pay this claim of ₹ 5,71,515 to the Operational Creditor. 3. Ever since, this Corporate Debtor having not paid the award amount despite the Operational Creditor giving additional time to settle the dues and reminded the Corporate Debtor to pay the claim amount to the Operational Creditor, finally, when no payment came from the Corporate Debtor, this Operational Creditor issued Section 8 Notice on 12.01.2019 by hand demanding payment of the amount aforesaid. On receipt of Section 8 notice, on the same day, i.e. on 12.01.2019, the Corporate Debtor replied admitting the liability that this Corporate Debtor owed to pay ₹ 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (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 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act); (d) The recovery of any property by an owner or lessor where such property is occupied by or in the possession of the Corporate Debtor. (II) That the supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. (III) That the provisions of sub-section (1) of Section 14 shall not apply to such transactions as may be notified by the Central Governmen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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