2017 (12) TMI 972

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....aw, Advs. For The Corporate Debtor : Vikrant Mahajan Director ORDER PER SMT. INA MALHOTRA, MEMBER (J) This petition has been filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (herein after referred to as Code). The petitioner has claimed to be an Operational Creditor and has prayed for an initiation of Corporate Insolvency Resolution Process against the Respondent Corpo....

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....ditor has issued notice under Section 8(1) of the Code. The same was not replied to. Due Compliance of the mandatory provisions of Section 9(3) (a) (b) (c) has been made. The Operational Creditor has filed the statement of its ledger accounts reflecting the debit and credit balances as well as the annual balance confirmation statement by the Corporate Debtor. The balance of as Rs. 5,55,14,360/- ha....

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.... made on behalf of the Corporate Debtor and having complied with all other requirements under the Code, there is no impediment in admitting the petition. The petition is therefore Admitted. A moratorium in terms of Section 14 is accordingly imposed as under:- "14. (1) Subject to provisions of sub-sections (2) and (3), on the insolvency commencement date, the Adjudicating Authority shall b....

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....essor where such property is occupied by or in the possession of the corporate debtor. (2) The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated or suspended or interrupted during moratorium period. (3) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in cons....