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TMI Blog2022 (6) TMI 1045X X X X Extracts X X X X X X X X Extracts X X X X ..... e order of this Tribunal dated 22-03-2022, FC had issued a notice to CD intimating the next date of hearing that is 02-05-2022 annexed as Exhibit B to Affidavit of Service (Pg 5). However, The CD chose not to appear and plead the case though the CD had filed his reply on record on 15-02-2020. Hence, the matter is taken on merits as is to be decided ex-parte. It is observed that there was debt, there was default and the petition has been filed within the period of limitation - the petition deserves admission. Petition admitted - moratorium declared. - CP (IB) 3863/MB/2019 - - - Dated:- 10-6-2022 - P.N. Deshmukh, J. (Member (J)) And Kapal Kumar Vohra, Member (T) For the Appellant : Kunal Kanungo, Tanushree Sogani and Atishay Ja ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10-2016 for an amount of Rs. 1,72,500 Rs. 3,41,250 respectively drawn on The Greater Bombay Co-operative Bank, Malad Branch in favour of FC for the repayment of interest on money advanced by the FC, annexed as Exhibit E. 7. The said cheques were deposited by the FC with his bank, Central Bank of India, Pedder Road Branch on 14-12-2016 for realisation. The said cheques were dishonoured and the same was communicated by his bankers vide three separate returned instruments advise dated 16-12-2016 with remark Account closed , annexed as Exhibit F. 8. The FC had sent a demand notice to CD through an e-mail dated 30-12-16 (Pg 22). The CD replied to the same through a letter dated 16-01-17 wherein CD claimed that the cheques were handed ov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14. It is, accordingly, hereby ordered as follows:- (a) The petition bearing CP (IB) 3863/MB/2019 filed by Rajendra Shah, the FC, u/s. 7 of the IBC for initiating CIRP against Varsha Corporation Limited the CD, is admitted. (b) There shall be a moratorium under section 14 of the IBC, in regard to the following: (i) The institution of suits or continuation of pending suits or proceedings against the CD including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (ii) Transferring, encumbering, alienating or disposing of by the CD any of its assets or any legal right or beneficial interest therein; (iii) Any action to foreclose, recover or enforce any secu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... htra email:- [email protected] is hereby appointed as Interim Resolution Professional (IRP) of the CD to carry out the functions as per the IBC. The fee payable to IRP or, as the case may be, the RP shall be compliant with such Regulations, Circulars and Directions issued/as may be issued by the Insolvency Bankruptcy Board of India (IBBI). The IRP shall carry out his functions as contemplated by sections 15, 17, 18, 19, 20 and 21 of the IBC and other relevant provisions of law and regulations. (g) During the CIRP Period, the management of the CD shall vest in the IRP or, as the case may be, the RP in terms of section 17 of the IBC. The officers and managers of the CD shall provide all documents in their possession and furnish ..... X X X X Extracts X X X X X X X X Extracts X X X X
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