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TMI Blog2021 (11) TMI 468X X X X Extracts X X X X X X X X Extracts X X X X ..... nce it can be understood that the Corporate Debtor does not have anything to submit in opposition to the contentions made by the Operational Creditor. This is a fit case to admit and order initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor - application admitted. - CP (IB) No. 08/9/AMR/2021 - - - Dated:- 27-10-2021 - Telaprolu Rajani, J. (Member (J)) For the Appellant : Mayur Mundra, Advocate ORDER Telaprolu Rajani, J. (Member (J)) 1. This Application is filed by M/s. Seapol Port Private Limited (SPPL) seeking initiation of Corporate Insolvency Resolution Process in respect of M/s. Lloyds Shipping Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. Opera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Manager of the Port to permit the use of the HMC owned by M/s. SPPL to load or unload cargo depending on the service sought for by M/s. LSPL. On receipt of the service sought for by M/s. LSPL, M/s. SPPL will have to forward a letter to the Traffic Manager citing the need for the service and permission to perform its services as requested by M/s. LSPL. There have been occasions where letters were addressed to the Traffic Manager by M/s. SPPL before M/s. LSPL. Those were due to the delay on behalf of M/s. LSPL to forward the letter to the Traffic Manager despite instructions to M/s. SPPL for loading or unloading cargo. 5. Once the Traffic Manager of the Port, upon receipt of letters from both M/s. SPPL and M/s. LSPL, is satisfied with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The first due date fell on 14.08.2018 and remains unpaid amongst numerous other payments towards the services rendered by M/s. SPPL. 8. The Operational Creditor issued demand notice dated 05.06.2020 to the Corporate Debtor. But the Corporate Debtor did not issue any reply to the said demand notice. Neither was any payment made towards the demanded debt. 9. I heard the counsel for the Operational Creditor and perused the averments made in the Petition as well as the documents annexed along with the Petition. It is evident that the Corporate Debtor did not respond to the notice of demand issued by the Operational Creditor. The Corporate Debtor did not file counter inspite of granting several adjournments. By virtue of order dated 15.04. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Debtor's management forthwith and take necessary steps in furtherance of the CIRP in terms of Sections 13(2), 15, 17, 18 and 20 of Code and Rules made thereunder. iii. Moratorium in respect of the Corporate Debtor is hereby declared in terms of Section 14 of the Code. iv. The Directors, Promoters or any other person(s) associated with the management of Corporate Debtor shall extend all assistance and cooperation to the IRP as stipulated under section 19 of the Code for effectively discharging his functions under the Code. v. The Registry shall communicate the order to the Operational Creditor and the Corporate Debtor forthwith. vi. The Operational Creditor and the Registry shall send the copy of this order to IRP f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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