9911796707
TMI Blog2018 (12) TMI 1864X X X X Extracts X X X X X X X X Extracts X X X X ..... a default has occurred and the application under sub section 2 of Section 7 is complete. The name of the IRP has been proposed and there are no disciplinary proceedings pending against the proposed Interim Resolution Professional. Petition admitted - moratorium declared. X X X X Extracts X X X X X X X X Extracts X X X X ..... (Annexure 12(C011y)). 4. The precise case of the Petitioners is that the total amount in default due to the financial creditor by the corporate debtor as on 27.07.2018 is Rs. . A tabular chart depicting working of the amount in default is annexed (Annexure - 9(CoIIy)). 5. The Financial Creditor has proposed the name of Mr. Udayraj Patwardhan as the Insolvency Professional with the address C-703, Marathon innova, Off Ganapatrao Kadarn Marg, Lower Parel (West), Mumbai - 400013 and E-mail-id udayraj _patwardhan@sumedhaman agement.com. His registration number is IBB1/1PA-001/1P-N00024/2016- 17/ 10057. He has filed,his written communication as per the requirement of Rule 9(1) of the Insolvency and Bankruptcy (Application to Adjudicating Autho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... copy of the Board Resolution dated 1 1.05.2018 (Annexure 1) along with the main petition authorizing Ms. Prerna Agga_rwal to file the present petition. It is also averred by the Petitioner that the amount claimed is based on the terms of the Loan Agreement and it is calculated in a transparent manner. 11. The Respondent-Corporate Debtor admits the disbursement of loan and further states that the contents of Part-IV of the Petition are not denied to the extent that the same are a matter of record. It has been candidly admitted by Ms Manisha Chaudhary and there was no resistance to the admission of the petition. 12. In view of the aforesaid statement made by the learned counsel for the Respondent-Corporate Debtor, we find that advancement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 of the Code. It is made clear that the provisions of moratorium are not to apply to transactions which might be notified by the Central Government and a surety in a contract of guarantee to a corporate debtor. Additionally, the supply of essential goods or services to the Corporate Debtor as may be specified is not to be terminated or suspended or interrupted during the moratorium period. These would include supply of water, electricity and similar other supplies of goods or services as provided by Regulation 32 of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. 19. The office is directed to communicate a copy of the order to the Financial Creditor, the Corporate Debtor and the Interim Resolution Professiona ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
