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TMI Blog2019 (4) TMI 2001X X X X Extracts X X X X X X X X Extracts X X X X ..... red by operational creditor and that no notice of dispute has been received by operational creditor. Further operational creditor is to establish that there are no disciplinary proceedings pending against proposed RP. The notice was served on the corporate debtor. Postal track record is filed through Memo. Learned counsel contended that corporate debtor has not replied or failed to defend. The claim is submitted within period of time prescribed under Limitation Act, 1963. Thus, the claim is within limitation. There is no representation or reply by the Corporate debtor. Corporate debtor was served with notice before admission however, corporate debtor remained absent and it did not contest the claim. The Operational creditor is able to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... emand notices in Form 3 along with Form 4 dated 24.11.2018 as required under Section 8 of the Insolvency and Bankruptcy Code, 2016 was issued by the Operational Creditor to the Corporate Debtor and it is at Page No s. 10 -13. 4. The Operational Creditor did not receive any amount till date even after the issue of Demand notice as required under Section 8 of the Insolvency Bankruptcy Code, 2016. The statement of account of State Bank of India for the period from 01.01.2018 to 21.11.2018 shows that there were no deposits made or credits are received by the operational Creditor in respect of Corporate Debtor s due payment to the Operational Creditor. 5. I have heard the counsel for operational creditor. This Petition is filed by operat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... There is no representation or reply by the Corporate debtor. Corporate debtor was served with notice before admission however, corporate debtor remained absent and it did not contest the claim. 9. The Operational Creditor proposes the name of Sri. Sudhir Gonugunta as Interim Resolution Professional. The proposed IRP has given written consent in Form-2 through memo filed on 20.03.20 19. He has also certified there are no disciplinary proceedings pending against him either with the Board or ICSI. 10. The Operational creditor is able to establish through documents that corporate debtor committed default of operational debt. The application is complete and is liable to be admitted. 11. Hence, the Adjudicating Authority admits this Peti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sub-Section (1) of Section 31 or passes an order for liquidation of Corporate Debtor under Section 33, whichever is earlier. e. That the public announcement of the initiation of Corporate Insolvency Resolution Process shall be made immediately as prescribed under section 15 (1) and (2) of Insolvency and Bankruptcy Code, 2016 and on www.ibbi.gov.in (designated website of Insolvency and Bankruptcy Board of India, circulated vide IIBI/IP/PUBLIC ANN/221 dated 01.02.2017) and email to public.annibbi.gov.in, in addition to other accepted modes of publication immediately and call for submission of claims as per Section 15 of the IBC read with Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corpor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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