9911796707
TMI Blog2019 (11) TMI 1638X X X X Extracts X X X X X X X X Extracts X X X X ..... Technical) For the Petitioner : Mr. Ashok M. Bhatia, Advocate. For the Corporate Debtor : None present. ORDER Per: V. Nallasenapathy, Member (T) 1. This company Petition is filed by Risa International Limited (hereinafter called "Petitioner") seeking to set in motion the Corporate Insolvency Resolution Process (CIRP) against Aakash Lifestyle Private Limited (hereinafter called "Corporate Debt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r has made part-payments and a sum of Rs. 14,41,26,205/- is due but the Corporate Debtor failed to clear the said outstanding dues. 4. On 10.12.2018 the Petitioner issued Demand Notice demanding a sum of Rs. 36,36,52,133/- including interest @24% p.a. under Section 8 of the Code. The Demand Notice was returned with the remark "not known". Subsequently the Petitioner was allowed to take out substi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Registration No. IBBI/IPA-001/IP-P01232/2018-19/11928 has given his consent in Form No. 2 to act as an Interim Resolution Professional. 7. This Bench having been satisfied with the petition filed by the Petitioner which is in compliance of provisions of Section 8 & 9 of the Insolvency & Bankruptcy Code admits this application declaring Moratorium with the directions as mentioned below: (a) th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. (c) that the provisions of sub-section (1) of Section 14 shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. (d) that the order of moratorium shall have effect from 14.11.2019 till the completion o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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