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TMI Blog2022 (8) TMI 713X X X X Extracts X X X X X X X X Extracts X X X X ..... porate debtor despite repeated service and has been set ex parte vide order dated 27.05.2022. Moreover, the petitioner has appended affidavit u/s 9(3)(b) stating that even after reply to the demand notice, the corporate debtor has not cleared the outstanding dues and instead stated that payments will be made after the receipt of payment by the corporate debtor from M/s Hyosung India Pvt. Ltd., 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 17.09.2020 vide Diary No.01038. Whereas the date of default is 17.10.2019, therefore, this Adjudicating Authority finds that this application has been filed within limitation. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Limited (for brevity Corporate Debtor / Respondent ). 2. The Corporate Debtor namely, M/s SNH Construction Private Limited, is a Company incorporated on 22.02.2019 under the provisions of Companies Act, 2013 with CIN No.U4539HR2019PTC078735 with its registered office at Business Suit No19, Sector 48, Inhwa Business Centre, Ground Floor, IRIS Tech Park, Tower-A, Gurgaon, Haryana- 122018. Hence, the 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 A-1. 3. The facts of the case, briefly, as stated in the petition are that the operational creditor was approached by the corporate debtor to provide various construction se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances, this Adjudication Authority was constrained to proceed with the matter and the respondent has been set ex parte. 8. We have heard the learned counsel for the petitioner and have perused the records. 9. The first issue for consideration is whether the demand notice in Form 3 dated 20.07.2020 was properly served. The petitioner has placed a copy of e-mail which was delivered to the corporate debtor and reply to that has been duly received. 10. The next issue for consideration is whether the operational debt was disputed by the corporate debtor. It is to be noted that none appeared on behalf of the corporate debtor despite repeated service and has been set ex parte vide order dated 27.05.2022. Moreover, the petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the liability of the corporate debtor is undisputed. Accordingly, the petitioner proved the debt and the default, which is above threshold limit. 14. In the present petition, all the aforesaid requirements have been satisfied. It is seen that the petition preferred by the petitioner is complete in all respects. The material on record clearly goes to show that the respondent committed default in payment of the claimed operational debt even after demand made by the petitioner. In view of the satisfaction of the conditions provided for in Section 9(5)(i) of the Code, we admit the petition for initiation of the CIR Process in the case of the Corporate Debtor, M/s SNH Construction Private Limited and also direct moratorium in terms of sub- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proves the resolution plan under sub-section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33 as the case may be. 17. The Law Research Associate of this Tribunal has checked the credentials of Mr. Harsh Garg and there is nothing adverse against him. In view of the above, we appoint Mr. Harsh Garg, Registration No. IBBI/IPA-001/IP-P00243/2017-18/10472, E-mail: [email protected] Mobile No.9815343200 as the Interim Resolution Professional with the following directions:- i.) The term of appointment of Mr. Harsh Garg shall be in accordance with the provisions of Section 16(5) of the Code; ii.) In terms of Section 17 of the Code, from the date of this appointment, the powers of the Board of Di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lling for the submission of claims against Corporate Debtor; v.) It is hereby directed that the Corporate Debtor, its Directors, personnel and the persons associated with the management shall extend all cooperation to the Interim Resolution Professional in managing the affairs of the Corporate Debtor as a going concern and extend all cooperation in accessing books and records as well as assets of the Corporate Debtor; vi.) This Adjudicating Authority further directs the ex-management and promoters of the corporate debtor to specifically comply with the provisions of the Sub Regulation (2) of Regulation 4 of the Insolvency Resolution Process for Corporate Persons Regulations, 2016. The RP is directed to make a specific mention of any n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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