2020 (4) TMI 508

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....ion Process ("CIRP" in Short) in respect of the Corporate Debtor Company namely, Sonali Energees Private Limited. 2. The Petitioner/Operational Creditor is a registered company under the provisions of Companies Act, 1956, with a Company Identification Number (CIN) -L62200TG2008PLC061781. The registered office of the Petitioner is situated at Flat No. 306 & 307, 31, 3rd 201-203, 3rd Floor, Ashoka Bhoopal Chambers, S.P. Road, Secunderabad, Telangana-500 003. The present Petition is filed through Shri Rituraj M. Meena. 3. The Respondent/Corporate Debtor, namely Sonali Energees Private Limited was incorporated on 26-3-2009 with CIN: U40100GJ2009PTC056444. The authorised capital of the company is Rs. 10,00,00,000/-and the paid-up capital i....

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....rporate Debtor is produced herein below (Invoice raised are from Page no. 15 to 86 of the application): BILL NO. BILL SUB DT DEBT FELL DUE BILL AMT Rs. 130310021 09-5-2017 08-6-2017 58470.00 1240006443 23-10-2017 22-11-2017 90008.00 130310077 06-7-2017 05-8-2017 241089.00 130310089 06-7-2017 05-8-2017 24780.00 1131003680 18-9-2017 18-10-2017 3842.01 130310043 09-6-2017 09-7-2017 87515.00 1240052640 09-4-2018 10-5-2018 30400.00     TOTAL Rs. 536104.00 6. It is submitted that the Form 3 demand notice was issued by the operational creditor on 12-4-2018 which was duly served to registered office of the Corporate Debtor. It is....

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....onal creditor stating that. Due to GST effect and poor conditions of the solar industry overall, your payment was a delay and we are trying to clear it. It is submitted from the said email that the said amount is not deposited and the same is due to the Operational Creditor. 13. In light of the abovementioned facts and circumstance the Applicant's Prayer before this Adjudicating Authority is to Cause public announcement of the initiation of Corporate Insolvency Resolution Process and call for the submission of claims in accordance with clause (b) of sub-section (1) of section 13 read with Section 14 of the Insolvency and Bankruptcy Code, 2016 and be pleased to pass any further order in the interest of justice. 14. Now, the P....

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....e Corporate Insolvency Resolution Process be initiated as per Section 9 of the Insolvency and Bankruptcy Code, 2016 and the moratorium period may also be declared. 18. Further, the Operational Creditor has not suggested any name of an Interim Resolution Professional ("IRP" for short). If, this LB. Petition is admitted, an IRP needs to be appointed. 19. It is observed that - 19.1 The Application has been filed on 20-7-2018 for operational debt dueand defaulted of Rs. 5,36,104/- (Rupees Five Lakhs Thirty Six Thousand One Hundred Four Only) as per the respective Invoices enclosed. 19.2 Date of invoice is 9-5-2017, 23-10-2017, 06-7-2017, 6-7-2017, 18-9-2017, 09-6-2017 & 9-4-2018. 19.3 Date of first default is 08/06/2017. 19.4 ....

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....ty shall declares moratorium for prohibiting all of the following, namely: - I. (a) The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgement, 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 legal right or beneficial interest therein.  (c) Any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest A....

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....t of Interim Resolution Professional fees, paper publication costs etc., in the first month of the Corporate Insolvency Resolution Process. This is more, when Financial Creditor or other Operational Creditor is not there, CoC is not formed and the Operational Creditor is not able to bear the CIRP expenses. 23. Hence, this Adjudicating Authority hereby appoints Shri Omkarchand Rikhabdas Maloo, having Insolvency Professional Registration No.IBBI/IPA-001/IP- P00435/2017-18/10758, Email ID [email protected], Address: 403, 4th Floor, Shaival Plaza, Near Hope Neuro Care Hospital, Gujarat College Road, Ellisbridge, Ahmedabad, Gujarat-380006 an Interim Resolution Professional. The IRP is advised to file declaration disclosure statement withi....