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TMI Blog2022 (8) TMI 545X X X X Extracts X X X X X X X X Extracts X X X X ..... n directed to the Operational Creditor to supply the copy of the application and inform the Corporate Debtor to appear and contest this present application but no one appeared on behalf of the Corporate Debtor. Hence, this Adjudication Authority vide order dated 08.03.2021 decided to proceed Ex-parte against the Corporate Debtor. Even after giving sufficient opportunities to the Corporate Debtor, none appeared on behalf of the Corporate Debtor. The present application is complete in view of Section 9(5) of the IB Code, 2016. The present application has been filed on 01.01.2020 and the claim amount of Rs. 8,58,956/- meets the threshold limit as prescribed under Section 4 of the IB Code, 2016. It is also well within the limitations. Thu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal Creditor issued a demand notice dated 11.12.2019 to the Corporate Debtor in Form-3 and Form-4 under Section 8 of the IB Code, 2016 for the payment of Rs. 8,58,956/- which was delivered at the registered address of the Corporate Debtor on 19.12.2019. A copy of the demand as well as track report is on record. The Corporate Debtor neither repaid the debt nor replied to the demand notice. 3. In compliance of Section 9(3)(b) of the IB Code an affidavit is filed by the Operational Creditor stating that neither payment was made nor notice of dispute was received from the Corporate Debtor. 4. We have heard the learned counsel for the Operational Creditor and perused the material on record. It is noted that the Operational Creditor has su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duct the CIRP of the Corporate Debtor. Hence, we appoint the IRP from the list provided to us by IBBI. With this, we admit the Corporate Debtor in CIRP by following order:- ORDER i) The Corporate Debtor, viz., M/s. Classic Build Projects Private Limited is admitted in Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016. ii) The moratorium under Section 14 of Insolvency and Bankruptcy Code, 2016 is declared for prohibiting all of the following in terms of Section 14(1) of the Code. 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, arbitrat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ersonnel connected with Corporate Debtor, its Promoter or any other person associated with management of the Corporate Debtor are under legal obligation under Section 19 of the Code extend every assistance and co-operation to the Interim Resolution Professional. Where any personnel of the Corporate Debtor, its Promoter or any other person required to assist or co-operate with IRP, do not assist or Co-operate, IRP is at liberty to make appropriate application to this Adjudicating Authority with a prayer for passing an appropriate order. vi) This Adjudicating Authority directs the IRP to make public announcement of initiation of Corporate Insolvency Resolution Process (CIRP) and call for submission of claims under Section 15 as required ..... X X X X Extracts X X X X X X X X Extracts X X X X
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