2020 (2) TMI 1439

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....nkruptcy (Application to Adjudicating Authority) Rules 2016 ('Rules') for initiating Corporate Insolvency Resolution Process against M/s. TIERRA FOOD INDIA PRIVATE LIMITED i.e., Corporate Debtor under Section 10 of Insolvency & Bankruptcy Code 2016 (for short to be referred hereinafter as the 'Code'). The Application has been filed by Mr. ALEX THOMAS, Managing Director of Corporate Debtor who has been authorised to file an Application under the Code vide Special Resolution dated 05.11.2020. The Corporate Debtor falls within the definition of the term 'Corporate Applicant' as defined in Sub-Section (5) of Section 5 of the Code. 2. The Corporate Debtor was incorporated on 06.11.2009 having its Registered Office at 7/491, Kinfra Food Proces....

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....The learned Counsel for the Corporate Applicant is ready to bear the CIRP Cost. 9. I have heard the learned counsel for the Corporate Debtor, learned counsel for Financial Creditor and perused the records. In view of the fact that the Financial Creditor has no objection in admitting this Application, IBA/39/KOB/2019 is Admitted. While admitting the application the moratorium is declared for prohibiting all the following as provided in Section 14(1) of the code: "(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; (b) transferring, encumbering, ali....

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....No. IBBI/IPA-001/IP-P-01310/2018-2019/12220, residing at VELUTHEDATH House, Ponnurunni, Vytilla P.O, Cochin- 682019 and (E-Mail [email protected]), as an Interim Resolution Professional, with the following directions: (i) The term of appointment of Mr. DILEEP K. P shall be in accordance with the provisions of Section 16(5) of the Code. (ii) In terms of Section 17 of 'the Code', from the date of this appointment, the powers of the Board of Directors shall stand suspended and the management of the affairs shall vest with the Interim Resolution Professional and the officers and the managers of the 'Corporate Debtor' shall report to the Interim Resolution Professional, who shall be enjoined to exercise all the powers as are....