9911796707
TMI Blog2019 (11) TMI 1727X X X X Extracts X X X X X X X X Extracts X X X X ..... t be completed for reasons beyond control. They confirm the cancellation of the unit and their undertaking to refund the principal amount. Letter to this extent is also on record. However on account of financial constraints, they are unable to do so. The AR of the company who was present in Court has also confirmed this submission. It is an admitted fact that the Corporate Debtor has defaulted in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in sector 68, Gurgaon under the name and style of Orion Galaxy . Initially the unit was booked by one Ms. Deepa Sukhwani who transferred the booking to Mr. Dushyant Manuja and Mr. Pankaj Manchanda. The petitioner herein purchased the booking from the aforenamed persons. The Corporate Debtor duly transferred the aforesaid booking in the name of the petitioner and allotted him Flat No. 203, Floo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. In view of the facts and circumstances of the case and the documents on record, the prayer of the Financial Creditor merits consideration. This petition is therefore Admitted. A moratorium in terms of Section 14 of the Code comes into effect forthwith, staying: (a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or interrupted during moratorium period. (3) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. (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 durin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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