TaxTMI 
TaxTMI 
2019 (10) TMI 177
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.... under Section 9 of the Insolvency and Bankruptcy Code, 2016 [hereinafter referred to as "the Code"] read with rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 to trigger Insolvency Resolution Process against M/s. Ansh Electroplast Private Limited (hereinafter called as respondent/corporate debtor). 2. That, the applicant/operational creditor M/s. Surya Roshni Limited is a public limited company having Identification No. L31501HR1973PLC007543, having its registered office at Prakash Nagar, Sankhol Bahadurgarh, Haryana State and having branch office at 308, Shefali Centre, Paldi, Ahmedabad, Gujarat is engaged in the business manufacturing and supply of electricity goods. 3. That, the respondent/....
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.... Section 138 (b) of the Negotiable Instrument Act, 1881 was issued for dishonouring the cheque. That, the operational creditor has time and again reminded the corporate debtor to pay the outstanding amount but the same remains unpaid till date. 7. The applicant further submitted that, having failed to receive the payment from the corporate debtor, the operational creditor was compelled to issue statutory demand notice in form 3 along with form 4 dated 16th February, 2018 under Insolvency & Bankruptcy Code, 2016. 7.1 The operational creditor further submitted that, upon issuance of demand notice, corporate debtor replied by email dated 27.02.2018 admitting liability for the payment of the outstanding dues. 7.2 The applicant has subm....
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....18, one Mr. Digpal Singh Rathore appeared on behalf of the respondent and filed vakalatnama and upon his request two weeks' time was granted to file reply. Thereafter, on 03.12.2018, further two weeks' time was granted to file reply. Since the respondent failed to file reply within given time, right to file reply was closed on 09.01.2019. That, as per track report the notice was served upon the respondent and the service is found to be complete. Therefore, the matter is heard ex parte. 8. On perusal of the material available on record it is found that, the respondent has not raised any dispute against the claim and upon issuance of demand notice, corporate debtor replied by email dated 27.02.2018 admitting liability for payment of the ou....
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....ed by the respondent. That, Applicant is an Operational Creditor within the meaning of sub-section (5) of Section 20 of the Code. From the aforesaid material on record, petitioner is able to establish that there exists debt as well as occurrence of default. 12. That, the Application filed by the Applicant is complete in all respects. 13. The applicant/operational creditor has proposed the name of Mr. Kedar Ramratan Laddha to act as Interim Insolvency Professional. This Adjudicating Authority hereby appoint Mr. Kedar Ramratan Laddha, ([email protected]), 6/5 Sahayog Apartment, Keshavnagar, Subhash Bridge, RTO Circle, Ahmedabad, Gujarat having Registration No. IBBI/IPA-001/IP-P00586/2017-18/11115 to act as an interim resolution profess....
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.... its assets or any legal right or beneficial interest therein; (iii) 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 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); (iv) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 17. It is further directed that the supply of goods and essential services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. The provisions of sub-section (1) shall, however, not apply....