TaxTMI 
TaxTMI 
2020 (3) TMI 707
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....short CIRP) as against M/s. AB Garments Impex LLP/Corporate Debtor, contending that the Corporate Debtor committed default in payment of Rs. 7,00,355/- (Rupees Seven Lakh three hundred fifty five only) with interest @ 18% per annum. 2. The brief averments for the consideration of the Application are the following : The Operational Creditor is dealing with various types of garments and dresses. The Corporate Debtor has approached the Operational Creditor with an offer to purchase garments and dresses from the Operational Creditor. Pursuant to such request and order placed by the Corporate Debtor, goods were sold and delivered to the Corporate Debtor by the Operational Creditor as per two invoices totaling an amount of Rs. 7,50,237/-. Out ....
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.... The Corporate Debtor was called absent and declared ex parte. Accordingly, this case was heard in the absence of the Corporate Debtor. 3. The Operational Creditor, who is a dealer in supply of garments and dresses, has delivered goods as described in the two invoices dated 9-9-2017 for Rs. 7,31,850/- and Rs. 18,387/-, respectively. The copy of invoices, Exhibit-P4, proves the delivery of goods to the Corporate Debtor. As per the ledger account maintained by the Operational Creditor, an amount of Rs. 50,000/- has been paid by the Corporate Debtor on 26-12-2017 and balance outstanding comes to Rs. 7,00,355/- (Rupees Seven Lakh three hundred fifty five only). Despite demand, the Corporate Debtor has not paid the above said amount found due t....
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.... 5. In compliance of section 9(3)(b) of the code, an affidavit seen produced by way of supplementary affidavit and also produced copy of statement of Bank account in compliance of section 9(3)(c) of the Code. The copy of statement of Bank account, is marked as Annexure - P11. It proves that unpaid amount has not been paid as demanded by the Operational Creditor. 6. In view of the above circumstances, this Application is fit for admission and accordingly is admitted, upon the following among orders : ORDERS (i) The application filed by the Operational Creditor under section 9 of the Insolvency & Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against the Corporate Debtor, M/s. AB Garments Impex LLP., is here....
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....th any financial sector regulator. (vi) The order of moratorium shall have effect from the date of admission till the completion of the corporate insolvency resolution process. (vii) Provided that where at any time during the Corporate Insolvency Resolution Process period, if the Adjudicating Authority approves the resolution plan under sub-section (1) of section 31 or passes an order for liquidation of the corporate debtor under section 33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be. (viii) Mr. Balaknath Bhattacharyya, Insolvency Professional, registered with IBBI, having registration number IBBI/IPA-003/IP- N00096/2017-2018/10971, E-mail ID bhattacharyyabn@yahoo.....