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TMI Blog2022 (7) TMI 94X X X X Extracts X X X X X X X X Extracts X X X X ..... etitioner has appended affidavit u/s. 9(3)(b) stating that corporate debtor has not issued any notice or raised any dispute regarding the debt for which the present petition has been filed by the operational creditor. Whether this application is filed within limitation? - HELD THAT:- This application was filed on 15.11.2019 vide Diary No. 6370. Whereas the due date is a day prior to the date of default i.e. 02.09.2019. Therefore, this Adjudicating Authority finds that this application has been filed within limitation. As noted in paragraph above this liability of debt is admitted by the respondent-corporate debtor. In the present petition all the requirements have been satisfied. It is seen that the petition preferred by the petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal creditor, trader and supplier of iron and steel products, supplied material to corporate debtor as per request vide their purchase orders. Copy of invoices raised in favour of corporate debtor (Annexure-IV). Ledger account statement of corporate debtor in the account books of operational creditor for the Financial Year 2018-19 2019-20 (Annexure-VI). 4. It is submitted by the petitioner in Form 5, Part IV that the amount claimed to be in default is Rs. 1,52,47,560/- including interest @ 24% p.a. amounting to Rs. 5,93,654.29/- and the date of debt due is 01.09.2019. Therefore, the default occurred on 02.09.2019. 5. A demand notice in Form 3 dated 30.10.2019 and duly received, is stated to be issued to the operational creditor by s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otice or raised any dispute regarding the debt for which the present petition has been filed by the operational creditor. 11. The other issue for consideration is whether this application is filed within limitation. This application was filed on 15.11.2019 vide Diary No. 6370. Whereas the due date is a day prior to the date of default i.e. 02.09.2019. Therefore, this Adjudicating Authority finds that this application has been filed within limitation. As noted in paragraph above this liability of debt is admitted by the respondent-corporate debtor. 12. We have gone through the contents of the application filed in the Form 5 and find the same to be complete. As discussed above, there is a total unpaid operational debt Rs. 1,52,47,560.29 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Operational Assets and Enforcement of Security Interest Act, 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. 15. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the officers and the managers of the Corporate Debtor shall report to the Interim Resolution Professional, who shall be enjoined to exercise all the powers as are vested with Interim Resolution Professional and strictly perform all the duties as are enjoined on the Interim Resolution Professional under Section 18 and other relevant provisions of the Code, including taking control and custody of the assets over which the Corporate Debtor has ownership rights recorded in the balance sheet of the Corporate Debtor etc. as provided in Section 18(1)(f) of the Code. The Interim Resolution Professional is directed to prepare a complete list of inventory of assets of the Corporate Debtor; iii.) The Interim Resolution Professional shall strictl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hin seven days of filing the report of constitution of the Committee; and vii.) The Interim Resolution Professional is directed to send regular progress report to this Tribunal every fortnight. 19. The petitioner is directed to deposit an amount of ₹ 2,00,000/- (Rupees Two Lakhs Only) with the Interim Resolution Professional to meet the immediate expenses of the CIRP within two weeks. The same shall be fully accountable by Interim Resolution Professional and shall be reimbursed by the Committee of Creditors (CoC) to the petitioner to be recovered as the CIRP cost. 20. A copy of this order be communicated to both the parties. The learned counsel for the petitioner shall deliver copy of this order to the Interim Resolution P ..... X X X X Extracts X X X X X X X X Extracts X X X X
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