9911796707
TMI Blog2022 (1) TMI 1132X X X X Extracts X X X X X X X X Extracts X X X X ..... te Debtor had not filed reply from 4.02.2021 to 12.08.2021. He has also not complied with the order dated 23.01.2020 in which he was directed to pay ₹ 20,000/- for not filing the reply for so long. The Applicant has established the existence of debt and default on the part of the Respondent and the Respondent has not availed the opportunities provided by this Tribunal to defend the arguments made by the Applicant. Thus, this Tribunal admits this petition and initiates CIRP on the Respondent with immediate effect. Petition admitted - moratorium declared. - IB-2661/(ND)/2019 - - - Dated:- 12-1-2022 - P.S.N. Prasad, Member (J) And Rahul Bhatnagar, Member (T) For the Appellant : Shashwat Anand and Shashwat Parihar, Advocate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... collected along with the assured returns. f. The matter was challenged before Securities Appellate Tribunal (SAT) and order was passed in which ex-directors/promoters of the applicant were directed to submit the title deeds of the properties belonging to the applicant with SEBI. g. SEBI was directed to sell off the properties belonging to the applicant and repay the funds to the investors within a period of six months. h. A group of investors, frustrated by the long delay by SEBI to refund their money had filed the insolvency petition under section 7 of IBC against the applicant (HBN Dairies). The said application was admitted vide order dated 14.08.0218 whereby IRP was appointed and CIRP was initiated against the Corporate D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appearances no one represented on behalf of the respondent on most occasions. Consequently, the Respondent was proceeded ex-parte by order dated 12.08.2021. The Corporate Debtor had not filed reply from 4.02.2021 to 12.08.2021. He has also not complied with the order dated 23.01.2020 in which he was directed to pay ₹ 20,000/- for not filing the reply for so long. 3. The Respondent was absent even on the hearing on 23.11.2021. We have heard the arguments made by the counsel for the Applicant and perused the documents filed by him. The Applicant has established the existence of debt and default on the part of the Respondent and the Respondent has not availed the opportunities provided by this Tribunal to defend the arguments made by ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
