2019 (4) TMI 1739

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.... its inability to liquidate its outstanding debt towards them. 2. As per averments, the petitioner, a registered partnership firm, is engaged in the manufacture of Industrial Automation Equipment. The Corporate Debtor, who is in the business of manufacture and sale of various types of cheese products, requested the Petitioner/Operational Creditor to supply and install an indexing conveyor belt at the Corporate Debtor's factory at Noida, Uttar Pradesh. This was done after the price quotation for the specific requirement was duly accepted and a purchase order dated 03.12.2014 was placed on them. While placing the order, an advance of Rs. 34,000/- was paid to the petitioner. 3. On installation, though the amount under the invoice was....

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....g with the provisions of Sections 9(3) (b) & 9(3) (c) of the Code. 5. Upon filing of the present petition, the Corporate Debtor was issued notice. Since they failed to appear in Court to resist the petition, they were proceeded ex parte. In view of the facts and circumstances of the case which remain undemolished and uncontested, the prayer of the Operational Creditor merits consideration. 6. Accordingly, the petition is Admitted. A moratorium in terms of Section 14 of Code comes into effect forthwith, staying: "(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 ....