2019 (11) TMI 291

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....Corporate Debtor to start Corporate Insolvency Resolution Process (in short, "CIRP") of the Corporate Debtor as the Corporate Debtor committed default in paying the operational debt of Rs. 24,49,058/-. 2. The Corporate Debtor was served with the notice of this application as contemplated under rule 6(2) of I & B Code (Application to Adjudicating Authority Rules), 2016 but the corporate debtor did not appear. Hence, hearing of this application proceeded ex parte against the corporate debtor. 3. I perused the records. Operational Creditor has produced all invoices to show that operational debt is due and payable by the corporate debtor. He also produced on record the demand notice under section 8 of I&B Code sent to the Corporate Debtor....

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....Bankruptcy Code, 2016. The IRP shall cause a public announcement of the initiation of Corporate Insolvency Resolution Process and call for the submission of claims under Sec.15. The public announcement referred to in clause (b) of sub-section (1) of Insolvency & Bankruptcy Code, 2016 shall be made immediately. (iii) Moratorium under Sec.14 of the Insolvency & Bankruptcy Code, 2016 prohibits the following: (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 ....