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TMI Blog2020 (11) TMI 243X X X X Extracts X X X X X X X X Extracts X X X X ..... n record. Hence, he can be appointed to conduct Corporate Insolvency Resolution Process (CIRP). Application admitted - moratorium declared. - CP (IB) No. 85/9/NCLT/AHM/2019 - - - Dated:- 20-8-2020 - M. B. Gosavi, Member (J) and Virendra Kumar Gupta, Member (T) For the Appellant : Viral Shah, Learned PCA ORDER Virendra Kumar Gupta, Member (T) 1. This Application is filed under Section 9 of the Insolvency Bankruptcy Code, 2016 by the Operational Creditor, M/s. Maloo Bhatt Co. to initiate Corporate Insolvency Resolution Process against Corporate Debtor M/s. Pet Metal Private Ltd. The amount of debt has been claimed at ₹ 3,02,303/- (Rupees Three lacs Two Thousand, Three Hundred and Three Only) which relates to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Resolution Process (CIRP). Accordingly, we admit this application and order as under: ORDER 1. Corporate Debtor M/s. Pet Metal Pvt. Ltd. is admitted in Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016. 2. The moratorium under Section 14 of Insolvency and Bankruptcy Code, 2016 is declared for prohibiting all of the following in terms of Section 14(1) of the Code. (a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by the corporate debtor any of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 19 of the Code extend every assistance and co-operation to the Interim Resolution Professional. Where any personnel of the Corporate Debtor, its Promoter or any other person required to assist or co-operate with IRP, do not assist or Co-operate, IRP is at liberty to make appropriate application to this Adjudicating Authority with a prayer for passing an appropriate order. 6. This Adjudicating Authority direct the IRP to make public announcement of initiation of Corporate Insolvency Resolution Process (CIRP) and call for submission of claims under Section 15 as required by Section 13(1)(b) of the Code. 7. It is further directed that the supply of goods/service to the Corporate Debtor Company, it continuing, shall not be termina ..... X X X X Extracts X X X X X X X X Extracts X X X X
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