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TMI Blog2022 (2) TMI 739X X X X Extracts X X X X X X X X Extracts X X X X ..... et been completely wound up and hence under the said circumstances, we hereby initiate Corporate Insolvency Resolution Process as against the Corporate Debtor viz. M/s. Neptune Inflatables Limited. The Official Liquidator is discharged of his duty in relation to the Corporate Debtor company is concerned. Application admitted - moratorium declared. - TP/2(CHE)/2021 and CP No. 201 of 1996 - - - Dated:- 1-2-2022 - S. Ramathilagam, J. (Member (J)) And Anil Kumar B., Member (T) For the Appellant : Chirag Gupta, Advocate ORDER Anil Kumar B., Member (T) 1. The Financial Creditor viz. TIDCI Limited originally filed Winding up Petition under Section 433(e) and (f) of the Companies Act, 1956 and the Hon'ble High Court of M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th Gangadharan, with Reg. No. IBBI/IPA-001/IP-P00438/2017-2018/10761 to act as the Interim Resolution Professional in respect of the Corporate Debtor, who has also filed his consent in Form - 2 and also upon verification from the IBBI website, it is seen that the Authorization for Assignment is granted to the said IRP till 15.05.2022. The proposed IRP who is appointed shall take forward the process of Corporate Insolvency Resolution of the Corporate Debtor. The IRP appointed shall take in this regard such other and further steps as are required under the Statute, more specifically in terms of Section 15, 17, 18 of the Code and file his report within 20 days before this Bench. The powers of the Board of Directors of the Corporate Debtor sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aw 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 similar grant or right during moratorium period; 7. However during the pendency of moratorium period in terms of Section 14(2) and 14(3) as extracted hereunder; (2) The supply of essential goods or services to the Corporate Debtor as may be specified shall not be terminated or suspended or interrupted during moratorium period. (2A) Where the interim resolution professional or resolution professional, as the case may be, considers the supply of goods or services critical to protect and preserve the va ..... X X X X Extracts X X X X X X X X Extracts X X X X
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