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TMI Blog2021 (4) TMI 721X X X X Extracts X X X X X X X X Extracts X X X X ..... 16 ('Rules') by Mr. Vinay Yadav through Authorized Representative Mr. Anshu Arora who is duly authorized vide Letter of Authority (Annexure-A) with a prayer to initiate the Corporate Insolvency Resolution Process ('CIRP') against M/s. Jindal Buildtech Private Ltd. (hereinafter referred to as 'Corporate Debtor'). The Corporate Debtor namely, M/s. Jindal Buildtech Private Limited is a Company incorporated on 10.06.2005 under the provisions of Companies Act, 1956 with CIN No. U45201HP2005PTC028534 having its registered office at Village, Kishanpura, Baddinalagarh Road, Baddi Distt. Solan, Himachal Pradesh which falls within the State of Himachal Pradesh. Hence, the jurisdiction lies with this Adjudicating Authority. 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... F, respectively of the petition. 5. It is further submitted that the financial creditor has issued Legal Notice dated 19.10.2018 (Annexure-G) demanding full and final payment of debt within 7 days. The aforesaid notice was duly served on the corporate debtor and copy of postal receipts and tracking report are appended as Annexure-H (Colly) of the petition. Bank Statement of the financial creditor is attached as Annexure-I (Colly) of the petition. 6. In Part-III of Form No. 1, Vikas Garg, Registration No. IBBI/IPA-002/IP-N00189/2017-18/10506 has been proposed as Interim Resolution Professional (IRP). Form No. 2 dated 20.11.2018 submitted by the proposed IRP is found at Page Nos. 17-21 of the petition. 7. The corporate debtor has filed rep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spectively. The financial creditor has also issued a Legal notice dated 19.10.2018 (Annexure-G) through its counsel demanding full payment of pending amount. Original postal receipts and tracking report showing the delivery of Legal notice dated 19.10.2018 are found at Annexure-H (Page Nos. 31-36). The petitioner has attached bank statements showing an amount of Rs. 57,00,000/- transferred to the corporate debtor from the account of his Sole Proprietorship Firm i.e. M/s. Ultracon International and Rs. 40,00,000/- from his own account as Annexure-I (colly). It is evident from the contents of the petition that the corporate debtor has defaulted in the repayment of amount to the financial creditor. 12. The application filed in the prescribed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... period. (f) The provisions of Section 14(3) shall however, not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator and to a surety in a contract of guarantee to a corporate debtor. (g) The order of moratorium shall have effect from the date of this order till 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." 14. The Law Research Associate of this Tribunal has checked the credentials of Mr. Vikas Garg and there is nothing adverse against him. In view of the above, we appoint Mr. Vika ..... X X X X Extracts X X X X X X X X Extracts X X X X
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