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TMI Blog2020 (2) TMI 1125X X X X Extracts X X X X X X X X Extracts X X X X ..... Petitioner/Financial-Creditor and has failed in making repayment of the same. Hence, the default is occurred. Hence, filing of this IB. Petition is found in order and is found complete. Therefore, the present I.B. Petition deserves for an admission with the following directions/observations. The date of admission of this petition is 04.12.2019. Petition admitted - moratorium declared. - C.P. (IB) NO. 201/7/NCLT/AHM/2019 - - - Dated:- 4-12-2019 - Harihar Prakash Chaturvedi, Judicial Member And Prasanta Kumar Mohanty, Technical Member Viral Shah, CA for the Applicant. ORDER Harihar Prakash Chaturvedi, 1. The present IB. Petition is preferred by the Financial Creditor M/s. Girnar Extrusions Private Limited under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Lakhs Forty-Three Thousand Five Hundred only). As per the submitted details of MCA (Page , Annexure B), the directors of the company are Mr. Yashu Bhagwandas Jindal (DIN:00178374) and Ms. Nidhi Yashu Jindal (DIN: 07101928). It is submitted that the company is engaged in the manufacturing and selling of Aluminium Foils and Cut-Sheets. The registered address of the Respondent/Corporate-Debtor-Company is: B-3, Samir Apartment, Jetalpur Road, Baroda, Gujarat - 390007, India. 4. The facts on the present IB. Petition are described in prescribed format of present application, which shows that the Petitioner/Financial-Creditor advanced interest free loan of rupees fifteen lakhs for a period of two years. As per the Memorandum of Understanding (A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdered the Petitioner to effect a paper publication in widely circulated vernacular language newspaper, where the registered office of the Company is situated, by prescribing minimum seven day's of time from the date of publication. The Petitioner/Financial Creditor has also attached/submitted a copy of despatch of notice to the Corporate Debtor by a registered post. 8. In compliance of which, the. Petitioner has published the notice of hearing and submitted the proof of the same in local newspaper of Divya Bhaskar dated 17.07.2019 and submitted the proof on 17.07.2019. However, the Respondent/Corporate-Debtor did not file any objection to the present IB. Petition nor made any representation. 9. We heard the Learned CA, Mr. Vive ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ofessional is further directed to make public announcement of moratorium in respect of Corporate-Debtor-Company soon after receipt of an authenticated copy of this order and to act further as per the order/direction issued by this Adjudicating-Authority and to follow the provisions under sections 13 and 14 and other relevant provisions of the Insolvency and Bankruptcy Code. 12. As per the provisions of sections 13 and 14 of the IB. Code on the date of commencement of insolvency, this Adjudicating Authority declares moratorium with effect from today for prohibiting all of the following, namely:- I. (a) The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgem ..... X X X X Extracts X X X X X X X X Extracts X X X X
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