2017 (4) TMI 1350

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....ng a sum of Rs. 1,18,34,618.66/- and hence this Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 seeking for admission of this petition, declaring moratorium on the Corporate Debtor Company, direction for public announcement of initiation of corporate insolvency process and appointment of Interim Resolution Professional as prescribed under the Code and Rules thereon. The Petitioner/Operational Creditor M/s Belthangady Taluk Rubber Grower's Marketing & Processing Co-operative Society Limited was formed by the rubber growers mainly to facilitate purchase or procuring of natural rubber from the growers and sell it direct....

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....for the period from 1st September, 2015 to 31st March, 2016 in respect of the outstanding due i.e., Rs. 1,18,34,618.66/- payable by the corporate debtor. The operational creditor has filed a memo before this Bench on 10th March, 2017 enclosing with an affidavit dated 8th March, 2017 executed by the authorised signatory of the operational creditor stating that M/s Falcon Tyres Limited, the corporate debtor has not disputed the debt amount payable by them and neither they have paid the amount nor disputed the amount payable and hence M/s Falcon Tyres limited is liable to pay the above said amount to the applicant. The Operational Creditor has named Mr. Anand Ramachandra Bhat, Registration No. IBBI/IPA-001/IP-00226/2016-2017/1414, residi....

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....st created by the corporate debtor in respect of its property including any action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. ii. That the supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. iii. That the provisions of sub-section (1) of Section 14 shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. iv. That the order of moratorium shall....