2019 (6) TMI 1557

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....t is averred that this Tribunal admitted the petition filed under Section 7 of IBC by Oriental Bank of Commerce (Financial Creditor) on 04.12.2018 against Sriramagiri Spinning Mills Limited / Corporate Debtor and appointed Shri C. Bala Mouli, Applicant herein as Interim Resolution Professional. 3. Pursuant to the above order, IRP made public announcement on 07.12.2018 inviting claims. Subsequently, Hon'ble High Court, Telangana granted interim stay on CIRP vide order No. CRP. No. 7231 of 2018 dated 06.12.2018 due to which CIRP came to a standstill within two days of its commencement. 4. That Hon'ble High Court, Telangana vide order dated 01.05.2019 in CRP No. 7229 and 7231 of 2018 vacated the interim stay on the CIRP. 5. It is th....

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....e case of Applicant / IRP that this Bench admitted Petition filed under Section 7 of IBC, 2016 against Corporate Debtor by order dated 04.12.2018. The order is shown as Annexure-A. The CIRP started wef 04.12.2018. I have seen the order passed by this Bench dated 04.12.2018. It is true Petition under Section 7 of IBC was admitted against the Corporate Debtor Company and Applicant was appointed as IRP. 10. It is the case of Applicant that he made public announcement on 7th December 2018 inviting submission of claims, which is shown as Annexure- B. 11. It is the case of Applicant, Hon'ble High Court of Telangana passed interim order of stay of all further proceedings in this case bearing CP (IB) No. 145/7/HDB/2018 including appointment o....

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....ourt of law or the Adjudicating Authority or the Appellate Tribunal or the Hon'ble Supreme Court. (ii) If no 'Resolution Professional' is functioning for one or other reason during the corporate insolvency resolution process, such as removal. (iii) The period between the date of order of admission/moratorium is passed and the actual date on which the 'Resolution Professional' takes charge for completing the corporate insolvency resolution process. (iv) On hearing a case, if order is reserved by the Adjudicating Authority or the Appellate Tribunal or the Hon'ble Supreme Court and finally pass order enabling the 'Resolution Professional' to complete the corporate insolvency resolution process. (v) If th....