TaxTMI 
TaxTMI 
2021 (3) TMI 926
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....016 [hereinafter referred to as "the Rules"], as operational creditor/applicant. 2. The applicant/operational creditor, a partnership firm, having GST Registration No. GSTIN -24AAFCP3673E1ZJ and having its registered office at Morbi, Gujarat State, engaged in trading activities, has submitted that, the respondent is indebted to the petitioner a total sum of Rs. 41,28,358/- (Rupees forty-one lacs twenty-eight thousand three hundred fifty-eight only) which include interest amount of Rs. 6,29,749/- against six invoices raised by the petitioner towards goods supplied to the respondent during the period from 12.12.2016 to 08.10.2017. As per the terms and conditions of the invoices raised by the petitioner, all the invoices have fallen due....
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....otified for the first time on 19.02.2020. On perusal of the records it is found that, last time, on 09.092020, one Mr. Vijay Patel appeared on behalf of the corporate debtor and two weeks' time was granted for filing the reply. Till date neither reply is filed nor anyone appeared on behalf of the corporate debtor. Therefore, Registry again issued fresh notice to the respondent on 13.01.2021 which was delivered on 25.01.2021, but, none appeared on behalf of respondent. Since the service is complete, the matter is heard in absence of respondent. 8. Heard learned counsel appearing for the petitioner and perused the documents annexed to the application. 9. On perusal of the records it is found that the instant petition filed o....
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....es to be admitted. 12. On perusal of the record it is also found that the instant petition filed by the applicant is well within limitation and there is no pre-existing dispute regarding the operational debt from the side of the corporate debtor. 13. In the instant application, from the material placed on record by the Applicant, this Authority is satisfied that the application is complete in all respect and the Corporate Debtor committed default in paying the operational debt due and payable to the Applicant. 14. The documents produced by the operational creditor clearly establish the 'debt' and there is default on the part of the Corporate Debtor in payment of the 'operational debt'. 15. It has ....
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....creditor is payable in law by the corporate debtor as the same is not barred by any law of limitation and/or any other law for the time being in force. 17. Section 13 of the Code enjoins upon the Adjudicating Authority to exercise its discretion to pass an order to declare a moratorium for the purposes referred to in Section 14, to cause a public announcement of the initiation of corporate insolvency resolution and call for submission of claims as provided under Section 15 of the Code. Sub-section (2) of Section 13 says that public announcement shall be made immediately after the appointment of Interim Insolvency Resolution Professional. This Adjudicating Authority direct the Interim Resolution Professional to make public announcemen....
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.... goods and essential services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. The provisions of sub-section (1) shall, however, not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. 21. The order of moratorium shall have effect from the date of receipt of authenticated copy 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. 22. The applicant/operational creditor has not proposed na....