2018 (2) TMI 1940

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.... and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, ["Rules" for short] with a request to trigger Corporate Insolvency Resolution Process in respect of M/S. J.R. Diamonds Private Limited styling it as 'Corporate Debtor'. 2. J.R. Diamonds Private Limited is a Body Corporate constituted under the Companies Act, 1956 having its Registered Office at Surat. The Company is engaged in the business of manufacturing necklaces. The Respondent Company is in requirement of labourers/craftsmen for cutting and polishing diamonds. Petitioner is engaged in the business of providing labour services for cutting and polishing diamonds. Respondent approached the Petitioner for providing service in the nature of labour work for polishi....

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....bts. It is further stated that the claim of the Petitioner is in respect of the claim for services provided to the Respondent Company from time to time and therefore the debt due to the Petitioner from the Respondent is an operational debt and the petitioner is an 'Operational Creditor'. It is also stated that the Respondent committed default in payment of the operational debt. The Petitioner proposed the name of Mr. Vinod Tarachand Agrawal as Interirn Resolution Professional. 6. Petitioner served a copy of the Petition to the Respondent. Petitioner also served notice of date of hearing on the Respondent. Inspite of service of notice Respondent did not choose to appear and file objections. 7. Heard arguments of learned counsel app....

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....nder Section IO(4)(a) of the Code. 12. This Adjudicating Authority hereby appoint, Mr. Vinod Tarachand Agrawal as 'Interim Insolvency Resolution Professional' having address at 204, Wall Street- 1, Opp: Orient Club, Nr. Gujarat College, Ellisbridge, Ahmedabad-380006 with Registration No. IBB1/1PA-001/1PP00641/2017-18/ 11090, under Section of the Code. 13. The Interim Insolvency Resolution Professional is hereby directed to cause a public announcement of the initiation of 'Corporate Insolvency Resolution Process' and call for submission of claims under Section 13(1)(b) read with Section 15 of the Code and Regulation 6 of Insolvency end Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulatio....