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TMI Blog2021 (12) TMI 1238X X X X Extracts X X X X X X X X Extracts X X X X ..... e period of limitation - the present petition is complete and the petitioner is entitled to claim its dues, which remain uncontroverted by the Corporate Debtor, establishing the default in payment of the operational debt beyond doubt. Petition admitted - moratorium declared. X X X X Extracts X X X X X X X X Extracts X X X X ..... porate debtor is situated in Bathinda, Punjab and therefore this Tribunal has jurisdiction to entertain and try this petition. 11. The default occurred from 24.08.2017 and the petition is filed on 06.06.2019, hence the debt is not time barred and the petition is filed within the period of limitation. 12. In the given facts and circumstances, the present petition is complete and the petitioner is entitled to claim its dues, which remain uncontroverted by the Corporate Debtor, establishing the default in payment of the operational debt beyond doubt. In the backdrop of above facts and records, the present petition is liable to admitted, in terms of Section 9(5) of IBC, 2016. 13. Since the petitioner has not named the Insolvency Resolution Professional, this Tribunal based on the list furnished by Insolvency and Bankruptcy Board of India appoints Mr. Subhash Saini with registration No.IIBI/IPA-002/IP-N00449/2017-2018/11241, Office address Flat No.1405, GF, Sector-61, Chandigarh - 160036, e-mail id: [email protected], Mobile No.9888070049 as the Interim Resolution Professional subject to the condition that no disciplinary proceedings are pending against such an IRP named who may a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s associated with the management shall extend all cooperation to the Interim Resolution Professional in managing the affairs of the Corporate Debtor as a going concern and extend all cooperation in accessing books and records as well as assets of the Corporate Debtor; vi.) The Interim Resolution Professional shall after collation of all the claims received against the Corporate Debtor and the determination of the operational position of the Corporate Debtor constitute a Committee of Creditors and shall file a report, certifying constitution of the Committee to this Tribunal on or before the expiry of thirty days from the date of his appointment, and shall convene first meeting of the Committee within seven days of filing the report of constitution of the Committee; and vii.) The Interim Resolution Professional is directed to send regular progress report to this Tribunal every fortnight. 14. We direct the Operational Creditor to deposit a sum of ₹20,000/- with the Interim Resolution Professional namely, Mr. Subhash Saini to meet out the expense to perform the functions assigned to him in accordance with Regulation 6 of Insolvency and Bankruptcy Board of India (Insolven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other authority; (b) transferring, encumbering, alienating or disposing off by the corporate debtor any of its assets or any legal right or beneficial interest therein; (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 (54 of 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. 1 [Explanation.-For the purposes of this sub-section, it is hereby clarified that notwithstanding anything contained in any other law for the time being in force, a licence, permit, registration, quota, concession, clearance 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 on the grounds of insolvency, subject to the condition that there is no default in payment of current dues arising for the use or continuation of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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