2020 (2) TMI 48

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.... Authorised Signatory, Prerak Hora, on the basis of a Board Resolution dated 14.03.2019 seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Global Sourcing and Procurement Consolidation Limited ("the Corporate Debtor"). 2. The Corporate Debtor is a private company limited by shares and incorporated on 07.10.2016 under the Companies Act, 2013, with the Registrar of Companies (RoC), Maharashtra, Mumbai. Its Corporate Identity Number (CIN) is U01100MH2016PLC286637. Its registered office is at Office No.53, Satra Plaza, Sector 19-D, Vashi, Navi Mumbai, Maharashtra 400703. Therefore, this Bench has jurisdiction to deal with this petition. 3. The present petition was filed on 04.06.2019 before this Adjudicating Author....

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.... in the matter. 8. We have heard the arguments of the Learned Advocate for the Operational Creditor and perused the records. 9. It is clear from the documents placed on record that the Operational Creditor has supplied the goods in terms of the two contracts dated 12.03.2018 and 28.03.2018 placed at Exhibits 'E' (p.35) and 'F' (p.36) to the petition. 10. The consignments of apples were duly delivered to the Corporate Debtor through the Mediterranean Shipping Company S.A. The Bills of Lading bearing No.MSCUZF129507 at p.23 and No.MSCUZF147590 at p.29 of the Petition, Certificate of New Zealand Origin issued by the Auckland Regional Chamber of Commerce, evidencing loading at Napier (New Zealand) and their final destin....

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....der section 4(1) of the IBC. Therefore, the default stands established and there is no reason to deny the admission of the Petition. In view of this, this Adjudging Authority admits this Petition and orders initiation of CIRP against the Corporate Debtor. 15. The Operational Creditor has not proposed the name of any Interim Resolution Professional (IRP) in the matter. 16. It is, accordingly, hereby ordered as follows:- (a) The petition bearing CP(IB) 2120/MB-IV/2019 filed by Bostock New Zealand Limited, the Operational Creditor, under section 9 of the IBC read with rule 4(1) of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiating Corporate Insolvency Resolution Process (CIRP) against ....

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.... (d) The moratorium shall have effect from the date of this order till the completion of the CIRP or until this Tribunal approves the resolution plan under sub-section (1) of section 31 of the IBC or passes an order for liquidation of Corporate Debtor under section 33 of the IBC, as the case may be. (e) Public announcement of the CIRP shall be made immediately as specified under section 13 of the IBC read with regulation 6 of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. (f) Since the Operational Creditor has not proposed the name of any Interim Resolution Professional (IRP) in the matter, the IRP shall be appointed by this Adjudicating Authority ....