2020 (12) TMI 35

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.... Authority) Rules, 2016 (hereinafter referred to as Rules) by the applicant M/s. ABHEESNAIR ENGINEERING PRIVATE LIMITED (hereinafter referred to as 'Operational Creditor/Applicant') through its Director Shri. Sethumadhavan against M/S NAMBUDIRISONS AGRO FOODS INDIA PRIVATE LIMITED (hereinafter referred to as 'Corporate Debtor') having its Registered Office at 1st Floor, 32/938, Pallissery Road, Thammanam P.O, Cochin, Ernakulam- 682 032, Kerala. 2. The brief facts of the case are as under: i. Vide letter dated 15.09.2017, the Operational Creditor was appointed as a Super Stockiest of the Corporate Debtor. The Super Stockiest Agreement has been produced in Page 51-63 of the application. The Operational Creditor paid advance amount....

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....kruptcy Code 2016 demanding payment of Rs. 25,24,067/- (Rupees Twenty-Five Lakhs, Twenty-Four Thousand and Sixty-Seven Only) requesting to repay the unpaid Operational Debt in full within 10 days from the date of receipt of the Demand Notice. However, there was no response from the Corporate Debtor. 3. The learned counsel for the Operational Creditor stated that it is, therefore, evident that despite the expiry of 10 days from the date of service of the demand notice, neither the Corporate Debtor disputed the debt nor paid the due amount to the Operational Creditor, which clearly shows that the Corporate Debtor is not able to pay its debts occurred on account of the normal course of business. Hence, the Operational Creditor filed this Ap....

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....we have relied on Section 5 (20) and (21) of the Insolvency and Bankruptcy Code, 2016 to satisfy that the definition of Operational Creditor and Operational Debt. Further we relied on Section 9 (3) (a) (b) (c) of the Code to determine whether process for initiation of CIRP was followed by the Operational Creditor or not. On verification of records, it is noted that the claim amount in this application is Rs. 25,24,067/- and the cause of action arose before March 2020. Therefore, in all counts the instant Application deserves to be Admitted. 6. For the aforesaid reasons, this Tribunal is of the view that the present application is complete and the Applicant is entitled to claim its dues, which remain unpaid by the Corporate Debtor. In the....

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....ee to a Corporate Debtor. a) The order of moratorium shall have effect from the date of this order till the completion of the Corporate Insolvency Resolution Process or until this Bench approves the Resolution Plan under Sub-Section (1) of Section 31 or passes an order for liquidation of Corporate Debtor under Section 33, as the case may be. b) That the public pronouncement of the Corporate Insolvency Resolution Process shall be made immediately as specified under Section 13 of IBC. 8. The Operational Creditor has not suggested any name for appointment as the Interim Resolution Professional. Hence this Bench appoints Mr. MOHANAN T. S having registration No.IBBI/IPA-001/IP-P-01691/2019-2020/12624 (Email: tsmohanan@gmail.....