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TMI Blog2017 (7) TMI 1360X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as an evidence that Corporate Debtor has not made payments of the outstanding debt because the Banker did not issue the required certificate. The Petitioner has fulfilled the requirement of law for admission of the Petition. Petition admitted - moratorium shall have effect from the date of this Order till the completion of corporate insolvency resolution process, for the purposes referred to in Section 14 of the I B Code, 2016. - TCP/247/(IB)/2017 - - - Dated:- 28-7-2017 - CH MODH SHARIEF TARIQ, MEMBER (JUDICIAL) AND S. VIJAYARAGHAVAN, MEMBER (TECHNICAL) For the Petitioner : Counsel Mr. R. Venkataraman ORDER Per: Ch. Mohd Sharief Tariq, Member-Judicial:- Under adjudication is the Petition which originally cam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 9(3)(b) of the I B Code, 2016 stating therein that the Corporate Debtor has not given any notice in relation to any dispute pertaining to the unpaid operational debt. The Counsel submitted that four cheques dated 24.9.2011, 29.9.2011, 7.10.2011 and 2.11.2011 were issued by the Corporate Debtor which got bounced. Based on this, the Counsel submits that the same may be treated as an evidence that Corporate Debtor has not made payments of the outstanding debt because the Banker did not issue the required certificate. The Petitioner has fulfilled the requirement of law for admission of the Petition. The Operational Creditor has proposed IRP after seeking a written communication in Form-2. Therefore, TCP/247/(IB)/CB/2017 is admitted and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); (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. 7.The supply of essential goods or services of the Corporate Debtor shall not be terminated or suspended or interrupted during moratorium period. The provisions of Sub-section (1) of Section 14 shall not apply to such transactions, as notified by the Central Government. 8.The IRP shall comply with the provisions of Sections 13(2), 15, 17 18 of the Code. The directors of the Corporate Debtor, its promoters or any person associated with the Management of the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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