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TMI Blog2022 (5) TMI 145X X X X Extracts X X X X X X X X Extracts X X X X ..... . For the Respondents : Satyaki Chaudhuri , Adv. ORDER Per Harish Chander Suri Member ( Technical ) 1. The Court is convened by video conference today. 2. This petition under section under 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 has been filed by Arvinder Singh, Sole proprietor of the Proprietorship concern, M/s. A.B. Singh Associates having its registered office at SCO: 59-60, Phase-3B2, SAS Nagar(Mohali) (hereinafter referred to as the Operational Creditor), seeking initiation of corporate insolvency resolution process in respect of M/s. Supersonic Dealcom Private Limited (CIN: U51109WB2007PTC113832), having it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as filed the present petition for initiation of CIRP. 5. The Operational Creditor has filed various documents in support of its claim, which are under:- a. Working Sheet b. Lodger account of M/s. Supersonic Dealcom Private Limited is annexed as Annexure-I. c. Copies of invoices. d. Bank Statements of the Operational Creditor for the relevant period. e. Audited Balance Sheet of the Corporate Debtor as at 31-03-2019 (Financial year 2018-19) signed by the Operational Creditor as on 30.05.2019 showing that the Corporate Debtor owes Rs. 3,51,000/- towards audit fee payable and has no source of income in the present financial year is annexed as Annexure-J. 6. On being served with the notice of the Court, the Corpora ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Operational Creditor has proposed the name of Mr. Debasis Bhattacharya, to act as an IRP having Registration No. IBBI/IP-N00682/2018-19/12139, who has consented vide his affidavit and Form-2 and submitted that he has agreed to accept the appointment as IRP if an order admitting the present application is passed by this Adjudicating Authority. He has further submitted that no disciplinary proceedings are pending against him with the Board or Institute of Insolvency Professionals of ICAI. 10. The application is otherwise complete in all respects. 11. On the basis of the pleadings of the parties and after hearing Ld. Counsel in Court, we are of the opinion that since the Corporate Debtor has committed default in payment of the outsta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction to foreclose, recover or enforce any security interest created by the Corporate Debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); d) The recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. v) The supply of essential goods or services rendered to the corporate debtor as may be specified shall not be terminated, suspended, or interrupted during the moratorium period. vi) 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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