TMI Blog2022 (1) TMI 109X X X X Extracts X X X X X X X X Extracts X X X X ..... n relation to the services provided by the Operational Creditor, however has failed to pay the sum to the Operational Creditor which is due and payable. Thus, the Operational Creditor has proved that there is an 'operational debt' and 'default' which has been committed on the part of the Corporate Debtor. Further, it is also pertinent to note that the default arising in the present Application is much prior to the advent of the Covid-19 pandemic and hence the Corporate Debtor cannot seek shelter also under Section 10A of IBC, 2016. The Petition as filed by the Operational Creditor is required to be admitted under Section 9(5) of the IBC, 2016 - Petition admitted - moratorium declared. - CP(IB)/109(CHE)/2021 - - - Dated: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ptcy Board of India. 3. From Part-IV of the Application it is seen that the applicant has stated that the Operational Creditor is involved in the manufacturing/trading of computer peripheral equipments and was approached by the Corporate Debtor for supply of certain computer peripheral materials. It was submitted that pursuant to an agreement between the parties, certain purchase orders were raised by the Corporate Debtor and the goods were supplied by the Operational Creditor to the Corporate Debtor. It is averred that the terms of the Purchase Order stipulate payment to be made 45 days from the date of receipt of the materials. Further, it is averred that the Corporate Debtor has made some payments, however payments are pending towards ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is also filed by way of a memo by the Operational Creditor. Further, the Operational Creditor has also filed an Affidavit under Section 9(3)(b) of IBC, 2016 wherein it has been stated that the Corporate Debtor has failed to repay the unpaid operational debt within a period of 10 days and has also not brought to the notice of the Operational Creditor of any existence of a dispute by way of a reply. 7. In relation to the Corporate Debtor it is seen from the record of proceedings that there was no representation on behalf of the Corporate Debtor and hence fresh notice was issued by the Registry of this Tribunal and also by the Operational Creditor. Further, during the hearing held on 06.08.2021, this Tribunal permitted the Applicant to caus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Thus, taking into consideration the facts and circumstances of the case as well as the position of Law, we are of the view that the Petition, as filed by the Operational Creditor, is required to be admitted under Section 9(5) of the IBC, 2016. Since the Operational Creditor has not named the Insolvency Resolution Professional, this Tribunal based on the latest list furnished by Insolvency and Bankruptcy Board of India applicable for the period between July 2021 - December 2021 appoints S. POOSAIDURAI, with Reg:- IBBI/IPA-001/IP-P01965/2019-2020/12995 (email id:[email protected]) as the Interim Resolution Professional subject to the condition that no disciplinary proceedings are pending against such an Interim Resolution Professional ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... recovery of any property by an owner or lessor where such property is occupied by or in the possession of the respondent. 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 the license or a s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cess: Provided that where at any time during the Corporate Insolvency Resolution Process period, if the Adjudicating Authority approves the Resolution Plan under sub-Section (1) of Section 31 or passes an order for liquidation of Corporate Debtor under Section 33, the moratorium shall cease to have effect from the date of such approval or Liquidation Order, as the case may be. 13. The Operational Creditor is directed to pay a sum of ₹ 2,00,000/- (Rupees Two Lakh Only) to the Interim Resolution Professional upon the Interim Resolution Professional filing the necessary declaration form as required under the provisions of the Code to meet out the expenses to perform the functions assigned to her in accordance to Regulation 6 of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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