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TMI Blog2021 (4) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... to be admitted. In the instant application, from the material placed on record by the Applicant, this Authority is satisfied that the application is complete in all respect and the Corporate Debtor committed default in paying the operational debt due and payable to the Applicant - The documents produced by the operational creditor clearly establish the 'debt' and there is default on the part of the Corporate Debtor in payment of the 'operational debt'. Petition admitted - moratorium declared. - C. P. No. (IB) 838/9/NCLT/AHM/2019 - - - Dated:- 31-3-2021 - Manorama Kumari, Member (J) And Chockalingam Thirunavukkarasu, Member (T) For the Appellant : Kunal Vaishnav, Advocate For the Respondents : Bhargav Hasu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and assurance given, the respondent failed to clear the dues, therefore this petition. 6. The applicant has further stated that having failed to receive the outstanding debt, the applicant was compelled to issue demand notice dated 17.09.2019 through advocate demanding operational debt of ₹ 7,76,095/- (Rupees seven lacs seventy-six thousand ninety-five only) due and payable by the respondent. 7. In support of it's claim, the operational creditor has annexed to the application documents like; copy of invoices and delivery challans (page 7-111), demand notice dated 17.09.2019 along with proof of dispatch, ledger account (116-120) Board Resolution etc. Findings: 8. On perusal of the record it is found that the applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hin limitation and there is no pre-existing dispute regarding the operational debt from the side of the corporate debtor. 14. In the instant application, from the material placed on record by the Applicant, this Authority is satisfied that the application is complete in all respect and the Corporate Debtor committed default in paying the operational debt due and payable to the Applicant. 15. The documents produced by the operational creditor clearly establish the 'debt' and there is default on the part of the Corporate Debtor in payment of the 'operational debt'. 16. It has been observed in Mobilox Innovative Private Limited vs. Kirusa Software Private Limited [2017] 1 IBJ (JP) 2 SC that while examining an applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in force. 18. Section 13 of the Code enjoins upon the Adjudicating Authority to exercise its discretion to pass an order to declare a moratorium for the purposes referred to in Section 14, to cause a public announcement of the initiation of corporate insolvency resolution and call for submission of claims as provided under Section 15 of the Code. Sub-section (2) of Section 13 says that public announcement shall be made immediately after the appointment of Interim Insolvency Resolution Professional. This Adjudicating Authority direct the Interim Resolution Professional to make public announcement of initiation of Corporate Insolvency Process and call for submission of claims under Section 15 as required by Section 13(1)(b) of the Code. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions of sub-section (1) shall, however, not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. 22. The order of moratorium shall have effect from the date of receipt of authenticated copy of this order till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33 as the case may be. 23. The applicant/operational creditor has not proposed the name of Interim Resolution Professional. This Adjudicating Authority hereby appoint Shri Manish Kumar Bhagat, 103-104 Panchdeep Complex, Mithakhali Six Road, Navran ..... X X X X Extracts X X X X X X X X Extracts X X X X
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