2019 (7) TMI 685

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....after as Rules) on 12.04.2018 by the Petitioner 'Jyoti Polypack LLP' in the capacity of Operational Creditor, against 'Century Agro Chemicals Private Limited' (hereinafter as 'Corporate Debtor') having registered address at Flat No. C 23, Shivam Complex, Pune Solapur Road, Near Shankar math, Hadapsar, Pune. 2. The Petitioner has submitted Form-5 as prescribed under the rules. In the requisite Form, under the Head "Particulars of Operational Debt" the total amount in default is stated as Rs.36,26,985/- (Rs.29,63,242/- being the balance amount of invoices and Rs.6,63,743/- being the interest amount). MSME Certificate of the Operational Creditor is annexed in the petition. The date of default is stated to be 10.11.2016. 3. The Operationa....

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....ute' about the outstanding payments. 6. The claim of the Operational Creditor has been substantiated by the Bank Statements from 23.02.2018 till 31.03.2018 and a Bank Certificate dated 21.03.2018 under section 9(3)(c) of the I&B Code has been produced on record stating that no payment has been received in the Bank account of the Operational Creditor. 7. On going through the submissions and after perusing the documents produced on record, this Bench is of the view that the petition is complete in all respects. The Operational Creditor has supplied certain goods, for which only a part payment has been received from the Corporate Debtor. The claim of the Operational Creditor is duly corroborated with enough evidence viz, Bank Statements,....

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..... We further declare moratorium under section 14 of the I&B Code with consequential directions as mentioned below: I. That this Bench at this moment prohibits: 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, arbitration panel or other authority; b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitization and....