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TMI Blog2021 (9) TMI 583X X X X Extracts X X X X X X X X Extracts X X X X ..... rofessional and enclosed the consent letter given by the proposed IRP in Form-2. The above company petition is complete in all respects. Time Limitation - HELD THAT:- The present petition is filed on 15.06.2021, and the amount is less than ₹ 1 crore. But the default occurred on 01.12.2019, hence Section 10A will not affect the present petition from getting admitted. This tribunal is of the considered opinion that the company petition is liable to be admitted - Petition admitted - moratorium declared. - C. P. No. 636/I&B/2021 - - - Dated:- 10-8-2021 - Suchitra Kanuparthi, Member (J) And Shyam Babu Gautam, Member (T) For the Appellant : Harsh Gokhale, Advocate For the Respondents : Vinod Sharma, Advocate ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2019, the Petitioner completed the work assigned to him and delivered the same to full satisfaction of the Corporate Debtor. 5. After that the Petitioner requested the Corporate Debtor to visit the company site and take inspection of the same. On 30.10.2019 the Corporate Debtor took the inspection of the company site. 6. After being satisfied with the work carried out by the Petitioner, the Corporate Debtor issued a letter dated 30.10.2019, confirming the completion of work best of its satisfaction. 7. After receipt of the inspection and confirmation letter, the Petitioner raised an invoice bearing No. IG/10/2019 dated 31.10.2019 for a sum of ₹ 15,00,000/- on Corporate Debtor and delivered the same on 02.11.2019. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor failed to repay the aforesaid dues despite receiving Demand Notice, nor replied to the notice, nor repay the outstanding amount. The affidavit under section 9(3)(b) of the code stating that no dispute was raised by the Corporate Debtor has been filed by the Petitioner. 12. The Petitioner also enclosed the statements of Bank Account showing no payment has been received by the Corporate Debtor. 13. Heard both sides and perused the records. It is the submission of the counsel appearing for the Corporate Debtor Mr. Vinod Sharma has admitted the existence of debt and default and in view of the above correspondence the debt and default in this case is establish and the above company petition is liable to be admitted. The petitioner also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cordingly the same is admitted by passing the following: ORDER a. The above Company Petition No. (IB) - 636(MB)/2021 is hereby allowed and initiation of Corporate Insolvency Resolution Process (CIRP) is ordered against IGL Industries Limited. b. This Bench hereby appoints Mr. Manish Motilal Jaju Insolvency Professional, Registration No: IBBI/IPA-001/IP/P00034/2016-2017/10087 having office at D 502, Neelkanth Business Park, Vidyavihar, Mumbai - 400 086 as the Interim Resolution Professional to carry out the functions as mentioned under the Insolvency Bankruptcy Code, 2016. c. The Petitioner shall deposit an amount of ₹ 2 Lakh towards the initial CIRP cost by way of a Demand Draft drawn in favor of the Interim Resol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 31 or passes an order for liquidation of corporate debtor under section 33, as the case may be. h. That the public announcement of the corporate insolvency resolution process shall be made immediately as specified under section 13 of the Code. i. During the CIRP period, the management of the corporate debtor will vest in the IRP/RP. The suspended directors and employees of the corporate debtor shall provide all documents in their possession and furnish every information in their knowledge to the IRP/RP. j. Registry shall send a copy of this order to the Registrar of Companies, Mumbai, for updating the Master Data of the Corporate Debtor. Accordingly, this Petition is allowed. The Registry is hereby directed to commu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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