9911796707
TMI Blog2017 (5) TMI 1836X X X X Extracts X X X X X X X X Extracts X X X X ..... This Petition i.e. Form No. 5 has been filed by the Petitioner on 27th of April, 2017 under the provisions of Insolvency and Bankruptcy Code, 2016 in the capacity of "Operational Creditor". 2. The Petitioner has affirmed that M/s. Royal Twinkle Star Club Limited is a "Corporate Debtor/Operational Debtor" who had defaulted in not refunding an amount of Rs.1,09,516/- which was paid towards purchase ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pon as per the provisions of Section 8 and 9 of the Code. 5. That the Petitioner has placed on record the evidences to establish the existence of "Debt" as defined under Section 3(11) of the Code. The Petitioner has also established that the "default" as defined under Section 3(11) of the Code existed in this case. The Respondent has not raised any objection of the debt by issuing any Notice of D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding against him. 8. As a consequence, once the process has been initiated, the provisions of Moratorium as prescribed under Section 14 of the Code shall be operative henceforth with effect from 02.05.2017 shall be applicable by prohibiting institution of any Suit before a Court of Law, transferring/encumbering any of the assets of the Debtor etc. However, the supply of essential goods or service ..... X X X X Extracts X X X X X X X X Extracts X X X X
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