2019 (11) TMI 1457

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....ited, is the Operational Creditor/ Applicant of this application is a Registered Company under Section of the Companies Act, 2013. The Application is filed against the Corporate Debtor M/S Gurusukh Vintrade Services Pvt. Ltd. Company Registered under Companies Act, 1956. 2. The respondent is M/S Gurusukh Vintrade Services Pvt. Ltd, registered under Companies Act, 1956 and CIN: U51101 CT2010PTC021840 is represented herein by corporate Debtor. 3. The transactions were of the year from 01.07.2016 to 30.04.2019. The application has been filed on 21.06.2019. Hence, the claim is well within the period of limitation. 4. The Registered Office of the Corporate Debtor is within the state of Odisha; hence, this Adjudicating Authority has juri....

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....orate Debtor are filed before this Adjudicating Authority. 9. The Operational Creditor further submits monthly as well as quarterly Invoices for the payment of management & marketing fees by the Corporate Debtor from December, 2017 to April, 2019. Copies of monthly along with quarterly Invoices raised from December, 2017 to April, 2019 along with summary of calculation of outstanding management & marketing fees along with interest payable is due and payable by the Corporate Debtor. 10. The applicant submits that since the opening of the Hotel by the Corporate Debtor, there were defaults and delays in the payment of management & marketing fees. The Operational Creditor has time and again sent various reminder though emails to the Corpo....

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....ined to ADMIT this petition by following Order. ORDER (i) The application filed by the Operational Creditor under Section 8 and 9 of the Insolvency & Bankruptcy Code, 2016 is hereby admitted for initiating the Corporate Insolvency Resolution Process against M/S Gurusukh Vintrade Services Pvt. Ltd. Moratorium Order is passed for a public announcement as stated in Sec. 13 of the IBC, 2016. (ii) The moratorium is declared for the purposes referred to in Section 14 of the Insolvency & Bankruptcy Code, 2016. The IRP shall cause a public announcement of the initiation of Corporate Insolvency Resolution Process and call for the submission of claims under Sec.15. The public announcement referred to in clause (b) of sub-section ....

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....ess. (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 (l) of Sec.31 or passes an order for liquidation of corporate debtor under Sec.33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be. (viii) Necessary public announcement as per Sec.15 of the IBC, 2016 may be made by the Resolution Professional upon receipt of the copy of this order. (ix) Mr. Umesh Chandra Sahoo is appointed as Interim Resolution Professional registered with the ICSI Insolvency Professionals Agency having its Registration No.: IBB1/1PA-002/1P-N00621/2018-19/1....