9911796707
TMI Blog2019 (11) TMI 1656X X X X Extracts X X X X X X X X Extracts X X X X ..... unsuccessfully disputed the claim without any concrete evidence to prove the same. The application of the Financial Creditor deserves to be allowed, thereby initiating Corporate Insolvency Resolution Process against the Corporate Debtor - the application is admitted - moratorium declared - List the matter on 30th December, 2019 for filing of the progress report. - C.P. (IB) No. 535/KB/2018 - - - Dated:- 21-11-2019 - Shri Jinan K.R., Hon ble Member (Judicial) Shri Harish Chander Suri, Hon ble Member (Technical) Mr. N. Islam, Advocate (For Hema Mukherjee, Adv.) for the petitioner Mr. Avirup Chatterjee, Advocate, Mr. Prasenjit Paul, Advocate, Mr. Rishav Das, Advocate for the Corporate Debtor ORDER Per Harish Cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imating the Corporate Debtor regarding the dishonor of the aforesaid cheque, and demanding the sum of ₹ 25,00,000/- within 15 days from the receipt of the notice, sent through speed post, the same was received by the Corporate Debtor 3th June, 2015. 4. It is submitted that in spite of the demand notice, the Corporate Debtor has neglected to pay the said sum, thereby compelling the Financial Creditor to file a case under Section 138/141 of N.l. Act, against the Corporate Debtor and its Directors. 5. It is submitted that on 23 rd February, 2018, the Financial Creditor again sent a letter requesting the Corporate Debtor to pay their loan amount of ₹ 25,00,000/- but the Financial Creditor has received nothing till date. 6. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ind that the application is complete in all respect and fulfils all the requirements under Section 7 of the Code. The Financial Creditor has been able to prove that a sum of ₹ 25,00,000/- was disbursed to the Corporate Debtor as a loan on interest for a short time which the Corporate Debtor failed to repay although interest was being paid from time to time. The Corporate Debtor has unsuccessfully disputed the claim without any concrete evidence to prove the same. We find the application in order and are of the considered view that the application of the Financial Creditor deserves to be allowed, thereby initiating Corporate Insolvency Resolution Process against the Corporate Debtor. We, therefore, admit the application upon the follow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial goods or services to the corporate debtor as may be specified shall not be terminated, suspended, or interrupted during moratorium period. v) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. vi) The order of moratorium shall have effect from the date of admission till the completion of the corporate insolvency resolution process. vii) Provided that where at any time during the Corporate Insolvency Resolution Process period, if the Adjudicating Authority approves the resolution plan under sub-section (1) of Section 31 or passes an order for liquidation of the corporate debtor under Section 33, the moratorium sh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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