9911796707
TMI Blog2022 (6) TMI 498X X X X Extracts X X X X X X X X Extracts X X X X ..... d moratorium in relation to all the debts is declared, from today i.e. date of admission of the application and shall cease to have effect at the end of the period of 180 days, or this Tribunal passes the order on the repayment plan under Section 114, whichever is earlier, as provided under Sec 101 of IBC, 2016 - application allowed. - CP(IB)/07/KOB/2022, CP(IB)/08/KOB/2022, CP(IB)/09/KOB/2022, CP(IB)/10/KOB/2022, CP(IB)/11/KOB/2022, CP(IB)/12/KOB/2022, CP(IB)/13/KOB/2022, CP(IB)/14/KOB/2022 - - - Dated:- 2-6-2022 - Hon ble Mr. Ashok Kumar Borah, Member (Judicial) And Hon ble Mr. Anil Kumar. B, Member (Technical) For the Petitioners/Creditors : Shri. Vinod P.V., Advocate For the Respondents/Personal Guarantors : Sh/Shri. V.K Peer Mohammed Khan Girish Kumar V.C Advocates ORDER Per : Ashok Kumar Borah, Member (Judicial) Since common issues and laws are involved in all the petitions, they have been taken up together and a common order is passed in these cases. 1. These petitions have been filed by the Petitioners /Creditors State Bank of India under Section 95 (1) of the Insolvency and Bankruptcy Code, 2016 (I B Code,2016) read with Rule 7(2) of the Insolv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... espondent/Personal Guarantor in CP(IB)/09/KOB/2022, Mr. Laji Joseph has executed Deed of Guarantees/supplemental deed of Guarantee on 29.03.2006, 23.03.2010 and 16.07.2011, the Respondent/Personal Guarantor in CP(IB)/10/KOB/2022, Smt. Jerly Lijo has executed Deed of Guarantees/supplemental deed of Guarantee on 29.03.2006, 23.03.2010 and 16.07.2011. The Respondent/Personal Guarantor in CP(IB)/11/KOB/2022, Smt. Preethy Aljo has executed Deed of Guarantees/supplemental deed of Guarantee on 29.03.2006, 23.03.2010, 16.07.2011 and 02.01.2015, the Respondent/Personal Guarantor in CP(IB)/12/KOB/2022, Mr. Lijo Joseph has executed Deed of Guarantees/supplemental deed of Guarantee on 29.03.2006, 23.03.2010, 16.07.2011 and 02.01.2015. The Respondent/Personal Guarantor in CP(IB)/13/KOB/2022, Mr. Sijo Joseph has executed Deed of Guarantees/supplemental deed of Guarantee on 29.03.2006, 23.03.2010, 16.07.2011 and 02.01.2015 and the Respondent/Personal Guarantor in CP(IB)/14/KOB/2022 Smt. Joicy Laji has executed Deed of Guarantee/supplemental deed of Guarantee on 29.03.2006, 23.03.2010 and 16.07.2011, the Personal Guarantors guaranteed the repayment of all money payable by the Corporate Debtor to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pursuant to the order of this Tribunal dated 09.04.2021 in IBA/41/KOB/2020 and the said matter is under consideration of a Resolution Plan by the CoC, in which the Petitioner is having major voting share and they are actively participating in such process. The consideration of Resolution Plan is at the final stage and the entire debt as claimed by the applicant would be satisfied there itself. The respondents contend that the above application is filed only to harass the respondents herein with an intention to grab excess amounts and for illegal enrichment. 9. The Resolution Professional appointed by this Tribunal vide order dated 17.03.2022 filed a report and stated as under:- In accordance with Section 95 (4) (a) of the Code, the Application is required to be accompanied with details and documents relating to the debts owed by the debtor to the creditor(s) who has submitted the Application for Insolvency Resolution Process as on date of Application: In response to the said query, the Resolution Professional submits that State Bank of India, the Petitioner herein, has annexed the documents evidencing the debts owed by the Petitioner to Personal guarantors. In accordance w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... emand Notice was issued by the Petitioner. The Statement of Accounts have been annexed with the said Petition at Annexure - A/5. Moreover, the Resolution Professional, vide Email dated 23.03.2022 and Letter dated 23.03.2022, requested the Respondents, to provide confirmation for repayment of debt, if any, as claimed by the Petitioner. However, till date, the Respondents, have not provided their reply on the same. 11. The Resolution Professional stated that he verified the documents considering the requirements of the admission of the petitions against the personal guarantors and confirms that the insolvency Resolution Process against the Personal guarantors in CP(IB)/7/KOB/2022 to CP(IB)14/KOB/2022 to the Corporate Debtor M/s. Orma Marble Palace Private Limited and the application filed by the State Bank of India, who is the creditor, should be admitted and appropriate orders passed. FINDINGS 12. We have heard the learned counsel for both the parties at length and perused the entire case records/documents. We have also gone through the reports dated 01.04.2022 filed by the Resolution Professional. 13. While going through the averments in the CP(IB)s, the reply of Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssional with whom the claims are to be registered; and (c) the last date for submission of claims. 15. The publication of the notice shall be made in two newspapers, one in English and other in Vernacular which have wide circulation in the State where the Corporate Debtor and Personal Guarantor resides. The Resolution Professional shall furnish two spare copies of the notice to the Registry for the record. 16. The Resolution Professional in exercise of the powers conferred under Section 104 shall prepare a list of creditors on the basis of a) the information disclosed in the application filed by the debtor under Sections 94 or 95, as the case may be; and b) claims received by the Resolution Professional under Section 102 within 30 days from the date of the notice. The debtor shall prepare a repayment plan under Section 105, in consultation with the Resolution Professional, containing a proposal to the Creditors for restructuring of his debts or affairs. The repayment plan may authorize or require the Resolution Professional to: - (a) carry on the debtor s business or trade on his behalf or in his name; or (b) realise the assets of the debtor; or (c) admini ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
