2019 (7) TMI 787

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....pany (OOH) Gujarat is a proprietary concern of Mr. Atul Kantilal Mehta, having its registered office at Ashish Building, 2nd Floor, Swastik Cross Road, C.G. Road, Navrangpura, Ahmedabad (Gujarat) is engaged in the business outdoor advertisement. 3. That, M/s. Sakar Leisure Limited is a company incorporated under the Companies Act, 1956 on 28th February, 2017 and having its registered office at 202, Status Complex, Karelibaug, Vadodara 390 018, Gujarat State having identification No. U93000GJ2017PLC096010. That, authorised share capital of the corporate debtor is Rs. 5,00,00,000/- and paid up share capital is Rs. 5,00,00,000/-. 4. It is submitted by the applicant that the respondent company had taken the advertisement spaces for advert....

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....18. 6. The applicant submitted copy of the following documents in support of his claim: - Sr. No. Particulars Page Nos. 01 Company Master Data available on site of MCA 7 02 Annexure A - Orders issued by the respondent 8-17 03 Annexure B - invoices raised by the applicant 18-75 04 Annexure C - statutory notice dated 14.09.2018 76-83D 05 Annexure D - Bank statement from 01.04.2018 till 31.03.2019 84-92 7. Heard the arguments of the learned counsel appearing for the applicant. That, despite issuance of notice by the petitioner as well as by the Registry, none remained present on behalf of the respondent. On perusal of the record it is found that the registry has also issued notice ....

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....on record it is a fit case to initiate Insolvency Resolution Process by admitting the Application under Section 9(5)(1) of the Code. 11. In the case on hand petitioner has not proposed the name of Interim Resolution Professional. This Adjudicating Authority hereby appoint Mr. Kiran C. Shah as 'Interim Insolvency Resolution Professional' having address at M/s. Kiran Shah & Associates, Chartered Accountants, 608, Sakar - I, Nr. Gandhigram Railway Station, Ashram Road, Ahmedabad 380 009 and having Registration No. IBBI/IPA-001/IP-P00480/2017-18/10868, under Section 13(l)(c) of the Code. 12. Section 13 of the Code enjoins upon the Adjudicating Authority to exercise its discretion to pass an order to declare a moratorium for the purposes r....