9911796707
TMI Blog2019 (8) TMI 1740X X X X Extracts X X X X X X X X Extracts X X X X ..... not able to clear the dues outstanding, the petitioner has proved existence of debt and default against the Corporate Debtor, therefore looking at the consent given by an Insolvency Professional, the petition is admitted. Petition admitted - moratorium declared. - CP/1487/IB/2018 - - - Dated:- 5-8-2019 - B. S.V. PRAKASH KUMAR, MEMBER (JUDICIAL) AND ANIL KUMAR. B, MEMBER (TECHNICAL) For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2018; %3,00,000 on 16.04.2018 and 215,00,000 on 20.04.2018) to the Corporate Debtor, in consideration to the same, the Corporate Debtor executed Promissory Note dated 20.04.2018 for an amount of %20,00,000 promising that it would repay the borrowed amount along with interest at the rate of 12% on the demand made by the Financial Creditor. Subsequent thereto, the Corporate Debtor, on demand of repa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4, As the Corporate Debtor having admitted the debt and not able to clear the dues outstanding, we are of the considered view that the petitioner has proved existence of debt and default against the Corporate Debtor, therefore looking at the consent given by an Insolvency Professional, we hereby admit this petition by appointing Mr. Navneeth Vasudevan (Insolvency Professional) as IRP with a dire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cial interest therein; c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rocess shall be made immediately as specified under section 13 of IBC. VI. That this Bench hereby appoints Mr. Navneeth Vasudevan, having Reg.No: [IBBI/IP A-001/IP-P01048/2017-18/11731], No. 12, 1 st Street, Raghavan Colony, Ashok N agar, Chennai- 600083, E-mail: [email protected], Mobile No: 9972999779, as Interim Resolution Professional to carry out the functions as mentioned under IBC. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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