2021 (2) TMI 775

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....art the Corporate Insolvency Resolution Process ("CIRP") of the Corporate Debtor on the ground that the Corporate Debtor committed default in paying operational debt of Rs. 25,25,672/- (Rupees Twenty-Five Lakh Twenty-Five Thousand Six Hundred Seventy-Two Only). The date of default is stated to be 05.01.2019. 2. The Operational Creditor state that as per the purchase order dated 07.12.2018, the Corporate Debtor placed order of male and female wrist watches. Total quantity of the order was 15,000 nos. of watches. Accordingly, he sold and supplied the watches to the Corporate Debtor. The amount of Rs. 25,25,672/- was due and payable by the Corporate Debtor towards e-way bill on account maintained by him. The Corporate Debtor failed and neglec....

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....R 1. The Corporate Debtor, M/s. Radha Madhav Corporation Limited is admitted in Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016. 2. The moratorium under Section 14 of Insolvency and Bankruptcy Code, 2016 is declared for prohibiting all of the following in terms of 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, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; c. any action to fore....

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....assistance and co-operation to the Interim Resolution Professional. Where any personnel of the Corporate Debtor, its Promoter or any other person required to assist or co-operate with IRP, do not assist or Co-operate, IRP is at liberty to make appropriate application to this Adjudicating Authority with a prayer for passing an appropriate order. 6. This Adjudicating Authority directs the IRP to make a public announcement of initiation of Corporate Insolvency Resolution Process (CIRP) and call for submission of claims under Section 15 as required by Section 13(1)(b) of the Code. 7. It is further directed that the supply of goods/service to the Corporate Debtor Company, if continuing, shall not be terminated or suspended or interrupted durin....