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TMI Blog2020 (12) TMI 706X X X X Extracts X X X X X X X X Extracts X X X X ..... (for brevity 'the Rules') by M/S INDSAO INFRATECH (for brevity 'Applicant') through Mr. Rajesh Bhardwaj (Owner of the Applicant Company) with a prayer to initiate the Corporate Insolvency process against. M/s. Mars Buildmart Private Limited (for brevity 'Corporate Debtor'). 2. The Applicant M/s. Indsao Infratech, claimed to be the operational creditor, is a proprietorship having its registered office at Kothi No. 57, Sector 10, Dwarka New Delhi-110075 and is involved in the business of Building completion which includes activities that contribute to the completion or finishing of a construction. Repairs of the same type are also included in the corresponding sub-classes. 3. The Respondent M/s. Mars Buildmart Private Limited is a company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accordingly issued two post dated cheque No. 00134 dated 28.05.2019 and cheque No. 00139 dated 28.06.2019 in the name of the Operational Creditor. Further the 2nd Settlement Agreement dated 01.022019 was executed between the parties towards the full and final settlement of all claims under the Agreement dated 15.03.2017, the Corporate Debtor Company agreed to pay a sum of Rs. 1,02,34,337/- and accordingly issued two post dated cheque No.000137 dated 15.07.2019 and cheque No. 00138 dated 28.07.2019 in the name of Operational Creditor. It is further submitted that all the four aforesaid post dated cheques got dishonored due to insufficiency of funds and were returned back by the bank. 6. The Applicant on 23.10.2019 sent a Demand Notice unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erty including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the Respondent. (2) The supply of essential goods or services to the Respondent as may be specified shall not be terminated or suspended or interrupted during moratorium period. (3) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. (4) The order of moratorium shall have effect from the date of such order till the completion of the corporate insolvency resolution pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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