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TMI Blog2022 (3) TMI 1106X X X X Extracts X X X X X X X X Extracts X X X X ..... terms of Section 7 of the IBC, 2016 - petition admitted - moratorium declared. - C.P. (IB) No. 32/BB/2020 - - - Dated:- 8-3-2022 - Ajay Kumar Vatsavayi, Member (J) And Manoj Kumar Dubey, Member (T) For the Appellant : Abhijit Atur ORDER Ajay Kumar Vatsavayi, Member (J) 1. This present Company Petition has been filed by Mr. Sharad S. Heda and Mr. Sameer Heda (for brevity 'Petitioners/Financial Creditors') under Section 7 of the IBC, 2016, r/w Rule 4 of the I B (Application to Adjudicating Authority) Rules, 2016 with a prayer to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Unishire Lifestyle Dwellings LLP (hereinafter called as 'Respondent/Corporate Debtor'), on the ground that it h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Heard Mr. Abhijit Atur, learned Counsel for the Petitioners/Operational Creditors and none for the Respondent/Corporate Debtor. We have carefully perused the pleadings of the parties and extant provisions of the Code, and the Rules made thereunder. 6. It is seen that the Respondent/Corporate Debtor filed a Memo vide diary no. 1700 dated 12.03.2020 admitting the debt and its inability to pay the same to the Petitioner. In view of the same, the C.P. is liable to be admitted. 7. In the given facts and circumstances, the present petition being complete and having established the default in payment of the financial debt and for the default amount being above ₹ 1,00,00,000/-, the petition is admitted in terms of Section 7 of the IBC, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (h) The order of moratorium shall have effect from the date of this order till completion of the Corporate Insolvency Resolution Process or until this Bench approves the Resolution Plan under sub-section (1) of Section 31 or passed an order for liquidation of Corporate Debtor under Section 33 as the case may be; 8. In Part III of Form 1, Mr. Ratnakar Shetty, Registration No. IBBI/IPA-001/IP-P01630/2019-2020/12718 has been proposed as Interim Resolution Professional (IRP). Written Consent given by the IRP in Form 2 dated 22.11.2019 has been filed along with the C.P at Page Nos. 90-91. However, since certificate of registration is not filed, the IRP shall file the same within one week from the receipt of this order. 9. The Law Research ..... X X X X Extracts X X X X X X X X Extracts X X X X
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