2020 (5) TMI 3

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....resented by its Managing Director, Mr Prasad Emandi, on the basis of a Board Resolution dated 13-3-2018 seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Carpe Heat Transfer Private Limited ("the Corporate Debtor"). 2. The Corporate Debtor is a private company limited by shares and incorporated on 21-8-2013 under the Companies Act, 1956, with the Registrar of Companies (RoC), Maharashtra, Mumbai. Its CIN is U74120MH2013PTC247268. Its registered office is at 403-404, Building No. B-11, Sai Arpan Sai Complex, Joggers Park Road, Mira Road (East), Besides Shanti Vihar, Thane, Maharashtra 401107. Therefore, this Bench has jurisdiction to deal with this petition. 3. The present petition was filed on 16-4-2018 before....

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.... at page 6-7 of the Petition). 5. Invoices along with two Debit Notes have been placed on record at pp.1 to 8 of the Additional Compilation of Documents. The invoices provide for interest in case of delayed payments, to be charged at the rate of 21% per annum. Bank Certificate as required under section 9(3)(c) of the IBC has also been attached as Exhibit '6' at p.37 of the Petition. The total debt due and payable to the Operational Creditor is Rs. 1,56,37,304.00 (Rupees one crore fifty-six lakh thirty-seven thousand three hundred and four only), as mentioned at p.5 of the Petition. 6. The Operational Creditor had served a Demand Notice in Form 3 dated 27-12-2017 to the Corporate Debtor (Exhibit '3', pp.28-33) in terms ....

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....the default stands established and there is no reason to deny the admission of the Petition. In view of this, this Adjudicating Authority admits this Petition and orders initiation of CIRP against the Corporate Debtor. 13. The Operational Creditor has not proposed the name of any Interim Resolution Professional (IRP) in the matter. 14. It is, accordingly, hereby ordered as follows: - (a) The petition bearing CP(IB) 1181/MB/C-IV/2018 filed by Nu-way Heatransfer Private Limited, the Operational Creditor, under section 9 of the IBC read with rule 6(1) of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiating Corporate Insolvency Resolution Process (CIRP) against Carpe Heat Transfer Private....

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....om the date of this order till the completion of the CIRP or until this Adjudicating Authority 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 by a separate order. The fee paya....