9911796707
TMI Blog2021 (5) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... a Power Corporation - The Corporate Debtor is party to the said deed of assignment. The loan ought to have been repaid by the Corporate Debtor, which they failed. The date of the default as per the details provided in the application is 01.03.2019. As per the application total sum of ₹ 5,29,83,826/- is due and payable by Corporate Debtor. The debt and default are proved. The applicant herein has proposed name of Ms. Varalakshmi Narala to act as Interim Resolution Professional - Application admitted - moratorium declared. - CP (IB) No. 244/CB/2020 - - - Dated:- 12-4-2021 - Sucharitha R., Member (J) And Satya Ranjan Prasad, Member (T) For the Appellant : M. Maharshi Viswaraj, Adv. For the Respondents : Siddharth Mohanty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rate Debtor. 3. Ld. Counsel for the respondent has filed his counter. Ld. Counsel for the respondent admits the loan amount of ₹ 2,50,00,000/- (Rupees Two Crore and Fifty Lakh Only) availed by them, which also carries an interest at the rate of 12% PA, and also that the respondent could not repay the loan. 4. Heard both the parties. The debt and default are proved. The applicant herein has proposed name of Ms. Varalakshmi Narala having Registration No. IBBI/IPA-002/IP-N00620/2018-19/11980, to act as Interim Resolution Professional. 5. This application is ADMITTED by the following Order. ORDER i) The application filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiating C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny property by an owner or lessor where such property is occupied by or in the possession of the Corporate Debtor. v) The supply of essential goods or services to the Corporate Debtor as may be specified shall not be terminated, suspended, or interrupted during moratorium period. vi) The provisions of Sub-section (1) shall not apply to such transactions may be notified by the Central Government in consultation with any Financial Sector Regulator. vii) The order of moratorium shall have effect from the date of admission till the completion of the Corporate Insolvency Resolution Process. viii) Provided that where at any time during the Corporate Insolvency Resolution Process period, if the Adjudicating Authority approves the Resol ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
