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TMI Blog2018 (12) TMI 1936X X X X Extracts X X X X X X X X Extracts X X X X ..... ,351/- is claimed as the amount in default which became due and payable after the expiry of 7 days from the date of the respective invoices. Vide order dated 05.06.2018 it is seen that upon service of the notice of the Application, the Corporate Debtor is being represented by Mr. Rahul Sharma, Advocate. It is seen vide order dated 24.07.2018 the liabilities are been admitted by the Corporate Debtor and hence no reply is filed. Under the circumstances of further non-appearance of Corporate Debtor vide order dated 12.10.2018, this Tribunal was constrained to proceed with the matter exparte in relation to the Corporate Debtor - That the Operational Creditor has filed an affidavit along with the petition as mandated under section 9 (3) (b) o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... U70102DL2008PPC178620. It is submitted by the Operational Creditor that Corporate Debtor had placed an order for the screening of a 60 second Rasna commercial ( Commercial ) at specified multiplexes of INOX under 5 release orders issued by Corporate Debtor to Operational Creditor. That the present case arises out of the above Release Orders executed between the Operational Creditor and the Corporate Debtor and pursuant to which, payment amounting to ₹ 33,44,035/- have become due as on 12.03.2018. The release Orders are Collectively annexed as Annexure- II/A (Coly). Based on the aforementioned Release Orders, the Operational Creditor commenced services in accordance with the terms and conditions of the Release Orders. The amounts bec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces annexed with the demand notice till the date of actual payment and also calling upon the Corporate Debtor to repay the unpaid Operational Debt within 10 days or to demonstrate that the amount claimed as in default has been paid or in the alternative to provide for the existence of any dispute in relation to the unpaid Operational Debt which was successfully delivered. 4. In view of lack of response by way of payment of the amount claimed in default or notice of dispute being issued to the Operational Creditor on the part of the Corporate Debtor, the present application has been preferred under Section 9 of IBC, 2016 read along with attendant rules seeking for the initiation of Corporate insolvency Resolution Process (CIRP) as against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... porate Debtor. 8. Since the Applicant has not named the Insolvency Resolution Professional, this Tribunal based on the list furnished by Insolvency and Bankruptcy Board of India appoints Mr. AnoopRumar Goyal, No. IBB1/1PA-001/1P-P00563/2017-18/11039, email: [email protected] Mobile 9820291680, as the Interim Resolution Professional subject to the condition that no disciplinary proceedings are pending against such an IRP named who may act as an IRP in relation to the CIRP of the Corporate Debtor and make disclosures as required under IBBI (insolvency Resolution Process for Corporate Persons) Regulations, 2016 within a period of one week from the date of this order. As a consequence of the application being admitted in terms of Sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016 and for ready reference reproduced as follows:- (4) The order of moratorium shall have effect from the date of such order till the completion of the corporate insolvency resolution process: 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. 10. The Applicant is directed to pay a sum of rupees two lakhs to the Interim Resolution Professional upon the Interim Resolution Professional filing the necessary declara ..... X X X X Extracts X X X X X X X X Extracts X X X X
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