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TMI Blog2018 (5) TMI 1965X X X X Extracts X X X X X X X X Extracts X X X X ..... the Respondent preferred silence. On the date of hearing one of the Directors remained present but not seriously contested. Accordingly, the impugned Debt is held to be still outstanding from the Corporate Debtor. Considering the circumstances mentioned, this Petition under consideration deserves to be Admitted . Petition admitted - moratorium declared. - CP No. 1758/I&BC/NCLT/MB/MAH/2017 - - - Dated:- 14-5-2018 - Hon'ble Shri M.K. Shrawat, Member (Judicial) For the Petitioner(s): Mr. Lalit Kumar Dangi, Director. For the Respondents: Mr. Mahesh H. Chandanshiv, Advocate, Mr. T.C. Kothari, Chairman Director. JUDGMENT M.K. Shrawat, 1. A Petition was filed on Form No.5 on 18.12.2017 by the Operational ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... email dated 10/2/2012 we are agreeable to accept Retainership on the following terms and condition. a. Retainership Fees ₹ 1,60,000/- service tax per month. b. Work involved - we shall advise on all matter relating to Noble Explochem Ltd and all matters of the group which need our advice. c. The assignment of Retainership commences from 1 st July 2011. d. The amount of fees become due immediately on receipt of Bill and if rut paid interest Will be charged @ 12 p.a. from the date of bill. 2.2. The Petitioner/Operational Creditor alleged that monthly Bills of Retainership Fees of ₹ 1,60,000/- along with Service Tax raised on the Corporate Debtor from 31.12.2013 to 30.04.2017, as mentioned in detail in Ann ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... make the outstanding payment within 15 days. 3. In respect of the said claim now under consideration, the Operational Creditor stated that Notice under Section 8 was issued in requisite Form No.3 on 23.09.2017 requesting the Debtor to clear the outstanding Debt within 10 days from receipt of the said Notice. According to the Postal Tracking Record, this Notice was delivered to the Corporate Debtor on 26.09.2017. Despite this, the Corporate Debtor neither raised any dispute nor replied or paid off the impugned Debt. 4. A signed copy of Bank statement issued by Karur Vysya Bank dated 02-12-2017 for the period from 23-09-2017 to 01-12-2017 with a certificate that . no credit of ₹ 84,33,605.56 is received from M/S. Noble Explo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of Moratorium the Insolvency Process such as Public Announcement etc. shall be made immediately as prescribed under section 13 read with section 15 of The Code. The appointed IRP shall perform the duties as an Interim Resolution professional as defined under section 18 of The Code and inform the progress of the Resolution Plan and the compliance of the directions of this Order within 30 days to this Bench. A liberty is granted to intimate even at an early date if need be. The IRP shall submit the Resolution Plan for approval as prescribed under section 31 of The Code. 8. It is hereby pronounced that the Moratorium as prescribed under Section 14 of the Code 2016 shall come into operation. AS a result, institution of any suit or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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