9911796707
TMI Blog2021 (10) TMI 993X X X X Extracts X X X X X X X X Extracts X X X X ..... he period from 13.07.2019 to 23.01.2020 in the account of Operational Creditor has also been filed. The Operational Creditor has clearly established the existence of debt and default on the part of the Corporate Debtor. The Corporate Debtor, on the other hand, chose neither to appear nor to contest the instant application filed under section 9 of the IB Code, 2016 - upon appreciation of the documents placed on record to substantiate the claim, this Tribunal admits this petition and initiates CIRP on the Corporate Debtor with immediate effect - Application admitted - moratorium declared. - IB-469/(ND)/2020 - - - Dated:- 13-10-2021 - P.S.N. Prasad, Member (J) And Dr. Binod Kumar Sinha, Member (T) For the Appellant : Ranjit Khatri, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... outstanding sum of ₹ 4,17,878/- exclusive of interest. ii. The Operational Creditor stated that repeated requests and reminders were sent to the Corporate Debtor however, the Corporate Debtor neither replied nor paid the amount due to the applicant. iii. That on 24.07.2019 the Operational Creditor sent a reminder letter to the Corporate Debtor thereafter, an email dated 19.09.2019 was also sent to the Corporate Debtor demanding the outstanding amount. 2. The Operational Creditor submitted that a Statutory Demand Notice under section 8 of IBC, 2016 dated 24.10.2019 was issued vide Post through the Operational Creditor's Counsel on 25.10.2019. The Operational Creditor further submitted that the said Demand Notice has b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y established the existence of debt and default on the part of the Corporate Debtor. The Corporate Debtor, on the other hand, chose neither to appear nor to contest the instant application filed under section 9 of the IB Code, 2016. In light of the above said facts after giving careful consideration to the entire matter, hearing the arguments of the Operational Creditor and upon appreciation of the documents placed on record to substantiate the claim, this Tribunal admits this petition and initiates CIRP on the Corporate Debtor with immediate effect. 5. This Adjudicating Authority, hereby appoints Mr. Sunil Kumar Gupta, (Email [email protected], (Mobile No. -9953999077) Reg. No: IBBI/IPA-001/IP-P00205/2017-2018/10394 to act as Insolvenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st 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 of the corporate debtor. 9. It is hereby clarified that notwithstanding anything contained in any other law for the time being in force, a license, permit, registration, quota, concession, clearances or a similar grant or right given by the Central Government, State Government Local Authority, Sectoral Regulator or any other authority constituted under any other law for the time being in force, shall not be suspended or terminated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ging the day-to-day affairs of the 'Corporate Debtor'. In case there is any violation committed by the ex-management or any tainted/illegal transaction by ex-directors or anyone else, the Interim Resolution Professional would be at liberty to make appropriate application to this Tribunal with a prayer for passing an appropriate order. The Interim Resolution Professional shall be under duty to protect and preserve the value of the property of the 'Corporate Debtor' as a part of his obligation, imposed by Section 20 of the Code and perform all his functions strictly in accordance with the provisions of the Code, Rules and Regulations. 12. The office is directed to communicate a copy of the order to the Financial Creditor, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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