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TMI Blog2021 (3) TMI 66X X X X Extracts X X X X X X X X Extracts X X X X ..... n the business of the corporate debtor had suffered huge losses, therefore the corporate debtor was unable to pay the said amount. The order was reserved on November 26, 2020 learned counsel for the corporate debtor submitted that the corporate debtor has admitted its liability and inability to pay the amount hence, it clearly establishes the existence of debt. In the above circumstances this Tribunal initiates CIRP of the respondent-company. - Company Petition No. IB- 591 /ND/ 2020 - - - Dated:- 16-12-2020 - DR. DEEPTI MUKESH (Judicial Member) and MS. SUMITA PURKAYASTHA (Technical Member) Sameer Khan and Ms. Sonam for the applicant. Ms. Kajal for the respondent. ORDER The present application is filed under s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e applicant herein the operational creditor had rendered the office management services to the corporate debtor for which sales invoice dated May 5, 2019 was issued for an amount of ₹ 8,43,700. The applicant on January 5, 2020 sent a demand notice under section 8 of the Insolvency and Bankruptcy Code, 2016 read with rule 5 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for the unpaid operational debt to the corporate debtor. As submitted, after issuance of the demand notice and up to the date of filing of this application the operational creditor has neither received the payment nor notice of existence of any dispute. 5. The applicant has therefore filed this petition as an operational creditor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g or disposing of by the respondent any of its assets or any legal right or beneficial interest therein ; (c) any action to foreclose, recover or enforce any security interest created by the respondent in respect of its property including any action under the Securitisation 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 trans actions as may ..... X X X X Extracts X X X X X X X X Extracts X X X X
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