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TMI Blog2021 (1) TMI 979X X X X Extracts X X X X X X X X Extracts X X X X ..... Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 r/w Section 9 of the code and is complete. It is clear that the default has occurred and the debt is due and payable. Further, the present application has remained uncontroverted with respect to the claim of the applicant. On the contrary, the corporate debtor in its Section 10 application itself admitted the claim of the present applicant of ₹ 3.5 Lakh which is recorded vide order dated 16.12.2020. Hence the application deserves to be admitted and the applicant is entitled to claim the admitted amount which is still outstanding and has remained unpaid till date. Therefore the applicant is admitted. Application admitted - moratorium declared. - Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioneer in the sphere of transportation in India. 3. The Corporate Debtor is a company limited by shares, registered with Registrar of Companies, Delhi, incorporated on 29.04.2016 under the provisions of Companies Act, 2013 bearing CIN-U22100DLPTC298730 with its registered office at Flat No. 103/3 M Con Circus Delhi, South Delhi DL 110001 IN and having registered email address [email protected]. The Authorized Share Capital of the company is 2,00,000/- and the paid up capital is ₹ 1, 00,000/-. 4. It is submitted that the corporate debtor approached the applicant for transportation of its various consignments which were duly fulfilled by the applicant and accordingly various invoices were raised. The said invoices were duly a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al debt outstanding is ₹ 3,53,983 /- (Rupees Three Lakh Fifty Three Thousand Nine Hundred and Eighty Three only) along with interest to be calculated at the rate 24% till date of realization which is due and payable by the corporate debtor to the applicant. 9. During the hearing on 16.12.2020, it was submitted on behalf of the corporate debtor that an application bearing no. IB /3110/2019 seeking CIRP against itself under Section 10 of the code has been field, wherein the claim of the present applicant of ₹ 3.5 Lakhs/- has been admitted. 10. The date of default is 06.03.2019 and the present application is filed on 16.03.2020. Hence the application is not time barred and filed within the period of limitation. 11. The reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m. The IRP is required to file consent Form-2 of the Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) Rule 2016 and make disclosures as required under IBBI (Insolvency Resolution Process for Corporate Persons) Regulation 2016, within a period of one week from this order. 16. The application being admitted in terms of Section 9(5) of IBC, 2016, moratorium as envisaged under the provisions of Section 14(1), shall follow in relation to the corporate debtor, prohibiting as per proviso (a) to (d) of the Code. However, during the pendency of the moratorium period, terms of Section 14(2) to 14(4) of the Code shall come in force. 17. We direct the applicant to deposit a sum of ₹ 2 lacs with the Interim Re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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