9911796707
TMI Blog2022 (7) TMI 97X X X X Extracts X X X X X X X X Extracts X X X X ..... or in its reply has admitted that its liability and inability to pay the debt. Moreover, petitioner 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 09.12.2019 vide Diary No.6959 Whereas the date of default is 14.12.2016, therefore, this Adjudicating Authority finds that this application has been filed within limitation. Apart liability of debt is admitted by respondent-corporate debtor. In the present petition all the aforesaid requirements have been satisfied. It is seen that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e territorial jurisdiction lies with this Adjudicating Authority. Copy of master data of the corporate debtor is attached with the main petition and marked as Annexure-4. 3. The facts of the case, briefly, as stated in the petition are that the operational creditor is a proprietorship firm and engaged primarily in the business of paper. The petitioner has sent the material vide invoice No. SPB named 19050 kg printing paper through truck No. HP20E 8760 to corporate debtor through invoice No. SPB/2016-17/0152 dated 15.11.2016 of Rs. 11,11,139/-. Copy of retail invoice dated 15.11.2016 along with copy of delivery challan dated 15.11.2016 and copy of ledger from dated 01.04.2016 to 31.03.2019 is attached as Annexure-4 of the petition. 4. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er the operational debt was disputed by the corporate debtor. It is to be noted that respondentcorporate debtor in its reply has admitted that its liability and inability to pay the debt. Moreover, petitioner 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. 11. The other issue for consideration is whether this application is filed within limitation. This application was filed on 09.12.2019 vide Diary No.6959 Whereas the date of default is 14.12.2016, therefore, this Adjudicating Authority finds that this application has been filed within limitation. Apart liability of debt is admitt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Corporate Debtor, Beckons Industries Limited and also direct moratorium in terms of sub-section (1) of Section 14 of the code to take effect and appoint Interim Resolution Professional as below:- a) the institution of suits or continuation of pending 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 Securit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ode; ii.) In terms of Section 17 of the Code, from the date of this appointment, the powers of the Board of Directors shall stand suspended and the management of the affairs shall vest with the Interim Resolution Professional and 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 e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mittee of Creditors and shall file a report, certifying constitution of the Committee to this Tribunal on or before the expiry of thirty days from the date of his appointment, and shall convene first meeting of the Committee within 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. 18. The petitioner is directed to deposit an amount of ₹60,000/- (Sixty Thousand 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 (C ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
