9911796707
TMI Blog2021 (1) TMI 862X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the Corporate Debtor which are of significant value. Thus, non participation of Corporate Debtor leads to an inference that Corporate Debtor in fact wishes to be admitted into CIRP. We, as Adjudicating Authority, have got limited options in such situations. The Corporate Debtor is not MSME; hence, any attempt by the management/ owners of the Corporate Debtor to complete in a hidden manner needs to be prevented. No data has been provided to us as to whether there is any Financial Creditor who has classified the account of the Corporate Debtor as NPA and, if so, then from which date? This is particularly important from the aspect that management of the Corporate Debtor should not come back indirectly. The role of COC would be clearly imp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... applicant issued notice under Section 8 of IBC, 2016 on 30.8.2019 which was delivered by way of e-mail and also on 11.09.2019 along with copies of all invoices. 3. Learned counsel for the Operational Creditor appeared and submitted that Corporate Debtor did not appear in spite of service of notice by way of paper publication and the matter had to be heard ex-parte as per order of this Adjudicating Authority. It was also brought to the notice that notices under Section 8 of IBC, 2016 was submitted on 30.08.2019 and thereafter cheques were issued by the Corporate Debtor which were deposited but got dishonoured. Thereafter, this application had been filed. The name of Interim Resolution Professional (hereinafter referred to as IRP ) has a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due and payable i.e. not barred by limitation and there is no pre-existing dispute. The application is otherwise complete and defect free and complies with the all requirements of provisions of IBC, 2016 r. w. relevant Regulations. The name of the IRP has also been proposed though not mandatory in case of application filed under Section 9 of IBC, 2016. Consent of such IRP is on record and it appears that there is no disciplinary proceeding against such proposed IRP; hence, we appoint Mr. Satyendra Sharma as IRP to conduct the CIRP as per rule. Accordingly, we admit this application and order as under: ORDER 1. The application is admitted and the moratorium is declared for prohibiting all of the following in terms of Section 14(1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , First Floor, Above Axis Bank, Sanjay Place, Agra-282002, Email Address: [email protected] to act as an IRP under Section 13(1) (c) of the CODE. 4. The IRP shall perform all his functions as contemplated, inter-alia, by Sections 17, 18, 20 21 of the Code. It is further made clear that all personnel connected with Corporate Debtor, its Promoter or any other person associated with management of the Corporate Debtor are under legal obligation under 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 appropri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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