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TMI Blog2019 (8) TMI 1550X X X X Extracts X X X X X X X X Extracts X X X X ..... against the claim made by the Operational Creditor - Since it is an advance payment made by the Operational Creditor towards supply of sugar (goods) from the Corporate Debtor, it is to be construed as 'operational debt' relating to supply of goods, therefore, considering this claim as operational debt and there being no dispute in between the parties in respect to debt and default, this company petition is admitted by appointing Mr. Ajay S. Jain as IRP with a further direction to this Operational Creditor to pay remuneration of the IRP as well as other expenditure the IIRP incurs in discharging his/her duties until COC has been constituted by the IRP. Application admitted - moratorium declared. - IBA/284/2019 - - - Dated:- 1-8- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stating that it had already paid vide Indian Bank transfer to lift the material from the Corporate Debtor on immediate basis but, till date, the Operational Creditor did not receive Sugar from the Corporate Debtor even after continuous follow-up by the Operational Creditor. 4. Thereafter, despite e-mail correspondence exchanged between the parties, as the Corporate Debtor failed to supply sugar as agreed by it, to refund the advance received from the Operational Creditor toward supply of Sugar, on 24.05.2018 the Corporate 'Debtor sent six post-dated cheques, each for drawn in favour of the Operational Creditor, on State Bank of India, Nungambakkam, as under: Cheque Number Date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Corporate Debtor has not come forward with any defence stating that dispute is existing in respect to the payment payable to the Operational Creditor. The Corporate Debtor has not even filed reply or written submissions raising defence against the claim made by the Operational Creditor. 7. Since it is an advance payment made by the Operational Creditor towards supply of sugar (goods) -from the Corporate Debtor, it is to be construed as 'operational debt' relating to supply of goods, therefore, considering this claim as operational debt and there being no dispute in between the parties in respect to debt and default, we hereby admit this company petition by appointing Mr. Ajay S. Jain as IRP with a further direction to this Ope ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall have effect from 31.07.2019 till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-section (1) of section 31 or passes an order for liquidation of corporate debtor under section 33, as the case may be. (V) That the public announcement of the Corporate Insolvency Resolution Process shall be made immediately as specified under Section 13 of the Code. (VI) That this Bench hereby appoints Mr. Ajay S. Jain having Registration Number [IBBI/IPA-001/1P-P01684/20192020/126311, Flat -10G, 10th Floor, Bhavya Block, Sri Mahalakshmi UTSAV Apartments, No. 339, KOH Road, Ayanavaram, Chennai- 600023, Email: [email protected], Mobile No: 9884211139 as Interim Resolution ..... X X X X Extracts X X X X X X X X Extracts X X X X
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