2019 (3) TMI 1778

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....ating Authority) Rules, 2016 (Rules) in the capacity of "Financial Creditor" on 29.01.2019 by invoking the provisions of Section 7 of the Insolvency and Bankruptcy Code (Code)against 'M/s. Raihan Healthcare Private Limited' ("Corporate Debtor").The registered address of the Corporate Debtor is stated to be EP-4/744-C, Murikkolil, Nadackal PO, Erattupetta, Kottayam, Kerala - 686 124. 2. In the requisite Form, under the head "Particulars of Financial Debt", the total amount of debt granted is Rs. 47.08 crores and the total amount claimed to be in default is stated to be Rs. 34,68,44,480 (Rupees Thirty Four Crores Sixty Eight Lakhs Forty Four Thousand Four Hundred and Eighty only) with interest applicable to each facility and other ....

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....count outstanding due as on date (page 201)     Certificate under Banker's Book Evidence Act, 1981 (page 202) 5. Looking at the dates and events as well as the annexures to the Application, we hereby hold that the Financial Creditor has furnished material disclosing the Creditor Bank providing credit facilities as mentioned above, the Corporate Debtor, in turn, defaulted in repaying the same. 6. The learned counsel for the Financial Creditor (Union Bank of India) submitted that the Bank has sent legal notice on 11.05.2018 to the Corporate Debtor demanding repayment of outstanding financial debt. In the reply notice dated 02.06.2018, the Corporate Debtor acknowledging credit facilities availed from Creditor Bank,....

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....tor has not placed any material to prove the claims made in its reply notice dated 02.06.2018. 9. In view of the reasons aforementioned, as long as there is a Debt and a Default occurred this Bench hereby holds that it is a fit case for admission. The Financial Creditor has also filed consent letter given by the Interim Resolution Professional. We hereby declare moratorium with the following directions: I. That Moratorium is hereby declared prohibiting all of the following actions, namely, (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; ....