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TMI Blog2021 (5) TMI 392X X X X Extracts X X X X X X X X Extracts X X X X ..... ancial debt, there exist a default on the part of the Corporate Debtor towards the 'Real Estate Allottee and therefore the Applicants herein are the Financial Creditors, and have complied with all requirements under the Insolvency and Bankruptcy Code for filling the present application. It is evident from the record that the application has been filed on the proforma prescribed under Rule 4(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 read with Section 7 of the Code. It is satisfied that a default amounting to lacs of rupees has occurred within the meaning of Section 4 of the Code and the application under sub-section 2 of Section 7 is complete; and no disciplinary proceedings are pending ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the name of Mr. Mukesh Gupta, for appointment as Interim Resolution Professional having registration number IBBI/IPA-001/IP-P01494/2018-2020/12254, Resident of F-1, Milap Nagar, Uttam Nagar, New Delhi. Mr. Mukesh Gupta has agreed to accept appointment as the interim resolution professional and has signed a communication in Form 2 in terms of Rule 9(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. There is a declaration made by him that no disciplinary proceedings are pending against him in Insolvency and Bankruptcy Board of India or elsewhere. 4. As per part IV of the application it is claimed that a sum of ₹ 7,66,91,952/- along with interest is due from the respondent company. 5. The c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount the Corporate Debtors allotted units in the project. f. That subsequently the allotment letters were issued by the Corporate Debtor along with detailed term and conditions. g. That in terms of Clause 11 of the allotment letters, the Corporate Debtor agreed to handover the possession of the said residential Flats to the Applicant within 60 months from the start of construction which has expired on 12.07.2017. h. That the Corporate Debtor from time to time demanded certain money from the Applicants as per payment plan and the applicants paid a total sum of ₹ 4,72,37,572/- for the residential flats from the period commencing from the date of Booking in 2012 till date which is duly acknowledged by the Corporate Debt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the IBC i.e. definition of financial debt, there exist a default on the part of the Corporate Debtor towards the 'Real Estate Allottee and therefore the Applicants herein are the Financial Creditors, and have complied with all requirements under the Insolvency and Bankruptcy Code for filling the present application. The Applicant has also filed the compliance (annexed as Annexure IV of the petition) that they met out the basic criteria to file the application as per the ordinance i.e. the application can be filed by 10% OR 100 whichever is less, number of financial creditor. 10. Additionally, after due opportunity, no one present on the behalf of Corporate Debtor at the time of final hearing of the matter. The Corporate Debtor has no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inst the proposed Interim Resolution Professional. Thus, the application warrant admission as it is complete in all respects. 13. As a sequel to the above discussion, this petition is admitted and Mr. Mukesh Gupta, for appointment as Interim Resolution Professional having registration number IBBI/IPA-001/IP-P01494/2018-2020/12254 resident of F-1, Milap Nagar, Uttam Nagar, New Delhi is appointed as an Interim Resolution Professional. 14. In pursuance of Section 13(2) of the Code, we direct that Interim Insolvency Resolution Professional to make public announcement immediately with regard to admission of this application under Section 7 of the Code. The expression 'immediately' means within three days as clarified by Explanation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebtor 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 services or supplies as provided by Regulation 32 of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. 17. We direct the Financial Creditor to deposit a sum of ₹ 2 lacs with the Interim Resolution Professional to meet out the expenses to perform the functions assigned to him in accordance with Regulation 6 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulations, 2016. The needful shall be done within three days from the date of receipt of this order by the Financial Creditor. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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