2020 (4) TMI 863

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....(CIRP) against Nakshatra Distilleries & Breweries Limited ("the Corporate Debtor"). 2. The Corporate Debtor is a public company limited by shares and incorporated on 6-1-2009 under the Companies Act, 1956, with the Registrar of Companies (RoC), Maharashtra, Pune. Its Corporate Identity Number (CIN) is U15520PN2009PLC133321. Its registered office is At/Post-Angar, Taluka: Mohol, District, Solapur, Maharashtra 413214. Therefore, this Bench has jurisdiction to deal with this petition. 3. The present petition was filed on 22-4-2019 before this Adjudicating Authority on the ground that the Corporate Debtor failed to make payment of a sum of Rs. 11,00,029.75 (Rupees eleven lakh twenty-nine and paise seventy-five only) as principal and Rs. 5....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of the IBC. The Corporate Debtor has not replied to the Demand Notice. 7. The Corporate Debtor has unequivocally acknowledged the debt as per the Consent Terms arrived at in the earlier round of proceedings contained in CP(IB) No. 1207/2017 (NCLT Mumbai Bench) vide its letter dated NIL, as seen from the Petition at p.25-28. 8. We have heard the arguments of the Learned Counsel for the Operational Creditor and perused the records. There is no reply either to the Demand Notice or to the Petition. There is also no representation from the side of the Corporate Debtor. 9. The Operational Creditor had earlier instituted proceedings under sec 9 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor before this Adjudicati....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sed the name of Mr. Uday Shreeram Sakrikar, Registration No. IBBI/IPA-001/IP-P01230/2018-19/11927, having address at 303, Rahul Vihar-A, Lane-8, Dahanukar Colony, Kothrud, Pune, Maharashtra 411038 [email: [email protected], Mobile:7028023182], as the Interim Resolution Professional of the Corporate Debtor. He has filed his written communication in Form 2 as required under rule 9(1) of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 along with a copy of his Certificate of Registration. 15. It is, accordingly, hereby ordered as follows: - (a) The petition bearing CP(IB) 1797/MB-IV/2019 filed by Krupa Polymers (India) Private Limited, the Operational Creditor, under section 9 of the IBC read w....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of section 14 of the IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any sectoral regulator; (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) Mr Uday Shreeram Sakr....