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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 ..... y Resolution Process (CIRP) against M/s. Unishire Lifestyle Dwellings LLP (hereinafter called as 'Respondent/Corporate Debtor'), on the ground that it has committed default for total amount of Rs. 3,15,28,583/- (Rupees Three Crore Fifteen Lakh Twenty Eighty Thousand Five Hundred and Eighty Three Only) as on 31.10.2019, which includes both the principal amount of Rs. 60,00,000/-(Rupees Sixty Lakh Only) and Rs. 2,55,28,583/-(Rupees Two Crore Fifty Five Lakh Twenty Eight Thousand Five Hundred and Eighty Three) towards interest from 12.10.2013. 2. Mr. Sharad S. Heda (hereinafter called as 'Petitioner No. 1/Financial Creditor) son of Srikrishna Heda, aged about 60 years is residing at No. 605, Life is Beautiful Apartments, Building ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l debt and for the default amount being above Rs. 1,00,00,000/-, the petition is admitted in terms of Section 7 of the IBC, 2016 and accordingly, moratorium is declared in terms of Section 14 of the Code. As a necessary consequences of the moratorium in terms of Section 14, the following prohibitions are imposed, which must be followed by all and sundry: (a) The institution of suits or continuation of pending suits or proceedings against the Corporate Debtor including execution of any judgment, decree or order in (b) any court of law, tribunal, arbitration panel or other authority; (c) Transferring, encumbering, alienating or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; (d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the IRP shall file the same within one week from the receipt of this order. 9. The Law Research Associate of this Adjudicating Authority has checked the credentials of Mr. Ratnakar Shetty and there is nothing adverse against him. In view of the above, we appoint Mr. Ratnakar Shetty, bearing Registration No. IBBI/IPA-001/IP-P01630/2019-2020/12718, registered address at No. F507, Mantri Tranquil, Gubbalala Gate, Kanakapura Road, Bangalore-560061, as the Interim Resolution Professional of the Corporate Debtor. The IRP is directed to take the steps as mandated under Sections 15, 17, 18, 20 and 21 of IBC, 2016. 10. The Interim Resolution Professional shall after collation of all the claims received against Corporate Debtor and the determinatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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