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TMI Blog2021 (12) TMI 340X X X X Extracts X X X X X X X X Extracts X X X X ..... otice dated 13.01.2019 to the Corporate Debtor. But the Corporate Debtor did not issue any reply to the said demand notice. The Corporate Debtor has admitted the debt in its counter - Corporate Debtor does not deny the fact that the amount claimed by the Operational Creditor is due. Counsel for the Operational Creditor submits that though the Corporate Debtor took time on earlier occasions stating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... einafter referred to as Operational Creditor ) seeking initiation of Corporate Insolvency Resolution Process in respect of M/s. Bio Ethanol Agro Industries Limited ( hereinafter referred to as Corporate Debtor ) alleging that the Corporate Debtor committed default in making payment of ₹ 33,09,360/- which includes interest @18% per annum, towards invoices raised against the services. Hence pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces of Assignor and entered assignment deed dated 05.01.2021 in favour of Operational Creditor. 3. The Operational Creditor issued demand notice dated 13.01.2019 to the Corporate Debtor. But the Corporate Debtor did not issue any reply to the said demand notice. The Corporate Debtor has admitted the debt in its counter. On the basis of the above submissions, the learned counsel appearing for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal Creditor did not suggest any name as Insolvency Resolution Professional (IRP) and sought the Tribunal to appoint an IRP. Hence, Mr. Srinivas Gudla Rao, (Registration No. IBBI/IPA-001/IP-P-02093/2020-2021/13333) as Insolvency Resolution Professional (IRP). ORDER The Company Petition is admitted. The Corporate Insolvency Resolution Process of the Corporate Debtor shall commence from this d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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