2021 (1) TMI 862

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....RP") against the Corporate Debtor namely M/s Digital Micron Roto Print Private Limited. The amount in dispute has been claimed at 16,79,221/- plus interests thereon. 2. The facts, in brief, are that the Operational Creditor supplied the material during period from July, 2018 to June, 2019 and raised bills to the tune of Rs. 21,21,702/- . Only part payment was made. Balance amount as stated hereinbefore remained outstanding. The Corporate Debtor had also provided Post Dated Cheques (in short "PDC") which were not honoured. Consequent to this situation, the applicant issued notice under Section 8 of IBC, 2016 on 30.8.2019 which was delivered by way of e-mail and also on 11.09.2019 along with copies of all invoices. 3. Learned counsel for th....

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....to complete in a hidden manner needs to be prevented. No data has been provided to us as to whether there is any Financial Creditor who has classified the account of the Corporate Debtor as NPA and, if so, then from which date? This is particularly important from the aspect that management of the Corporate Debtor should not come back indirectly. The role of COC would be clearly important to prevent the misuse of provisions of Section 29A of the CODE. With these observations, we hold that application is liable to be admitted as there is a debt which is due and payable i.e. not barred by limitation and there is no pre-existing dispute. The application is otherwise complete and defect free and complies with the all requirements of provisions o....

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....ss or until this Adjudicating Authority approves the Resolution Plan under sub-section (1) of the Section 31 or passes an order for liquidation of Corporate Debtor Company under Section 33 of the Insolvency & Bankruptcy Code, 2016, as the case may be. 3. The Operational Creditor has proposed the name of the Interim Resolution Professional(IRP). Therefore, this Adjudicating Authority hereby appoint Mr. Satyendra Sharma having Registration No: IBBI/IPA-002/IP-N00737/2018-2019/12260 and having  addressed at: M-3, Block No. 51, Anupam Plaza-II, First Floor, Above Axis Bank, Sanjay Place, Agra-282002, Email Address: [email protected] to act as an IRP under Section 13(1) (c) of the CODE. 4. The IRP shall perform all his functions a....