9911796707
TMI Blog2021 (12) TMI 1111X X X X Extracts X X X X X X X X Extracts X X X X ..... or, however paid the amount of ₹ 2,00,000/- out of total due amount. It is further noted that even after sufficient opportunity. The Corporate Debtor chose not to appear and contest this application. Hence, the debt amount is admitted and remains to be paid fully as per invoice dated 16/07/2019. There is no pre-existing dispute for the due amount. The present application is filed well within the limitation period and meets the threshold limit as prescribed under section 41 of IBC. Application admitted - moratorium declared. - CP(IB)/401/[AHM]/2020 - - - Dated:- 7-12-2021 - M.B. Gosavi, Member (J) And Ajai Das Mehrotra, Member (T) For the Appellant : Aditya R. Gundecha, Ld. Counsel ORDER Ajai Das Mehrotra, Membe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rporate Debtor has made part-payment of ₹ 2,00,000/- to the Operational Creditor on 29-11-2019, but failed to make the payment of the remaining due amount. The Operational Creditor did not receive payment from the Corporate Debtor even after the date of delivery of notice and invoice demanding payment. 5. It is submitted by the Operational Creditor that even after sufficient opportunity, the Corporate Debtor has chosen not to appear and contest this application. Hence, this Tribunal vide order dated 14-06-2021 passed an order to proceed ex-parte against the Corporate Debtor. 6. We have heard the learned counsel of the Operational Creditor and perused the material on record, it appears that goods have been supplied to Corporate D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation 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. II. The order of moratorium shall have effect from the date of this order till the completion of the Corporate Insolvency Resolution Process or until this Adjudicating Authority approves the Resolution Plan under sub-section (1) of Section 31 or passes an order for liquidation of Corporate Debtor Company under Section 33 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upted during the moratorium period. VI. The IRP shall be under a duty to protect and preserve the value of the property of the 'Corporate Debtor Company' and manage the operations of the Corporate Debtor Company as a going concern as a part of an obligation imposed by Section 20 of the Insolvency Bankruptcy Code, 2016. The Operational Creditor is directed to pay am advance of ₹ 50,000/- (Fifty Thousand Only) to the IRP within two weeks from the date of receipt of this order for smooth conduct of Corporate Insolvency Resolution Process (CIRP) and IRP to file proof of receipt of such amount to this Adjudicating Authority along with First Progress Report within/30 days. VII. The Registry is directed to communicate a c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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