2019 (10) TMI 1251

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....entations. Notice was also taken by way of publication dated 20.082019 in English newspaper "Central Chronicle" and Hindi newspaper "Swadesh". However, there was no representation for the Corporate Debtor. Hence, called absent & set ex-parte on 04.0962019. 3. The Applicant is Asset Reconstruction Company and is incorporated under Companies Act, 1956, is represented by Mr. Tilak Raj Sahni, Sr. Vice President, as per Board Resolution dated 08.12.2011. The respondent/Corporate Debtor availed 15.95 Crores loan vide Sanctioned Letter dated 30406.2010 from Allahabad Bank. The respondent executed various documents in favour of the Allahabad Bank* The loan was also secured by way of hypothecation of movable and mortgage of immovable properties. Th....

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....016. The IRP shall cause a public announcement of the initiation of Corporate Insolvency Resolution Process and call for the submission of claims under Section 15. The public announcement referred to in Clause (b) of sub-Section (1) of Section 15 of Insolvency & Bankruptcy Code, 2016 shall be made immediately. iv) Moratorium under Section 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 of its assets or any....