TaxTMI 
TaxTMI 
2021 (4) TMI 221
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....cy Resolution Process ("CIRP") against the Corporate Debtor M/s. Rajpal Abhikaran Private Limited. The amount of default has been stated at Rs. 69,34,699/ The date of default has been claimed on 07.11.2017. 2. The facts in brief are that the Operational Creditor had sold and supplied three (03) nos. of cars to the Corporate Debtor. For which, three invoices were raised on 17.11.2017 and 18.11.2017 respectively. The total value of these vehicles is Rs. 88,85,100/- against which, the payment of Rs. 19,50,400/- had been made. The balance amount remained unpaid. Failing to realize the outstanding amount, the Operational Creditor served a notice of demand under Section 8 of the Insolvency and Bankruptcy Code, 2016 on the Corporate Debtor ....
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....on is complete in all respects and defect free. It also complies with the requirements of provision of relevant provisions of the Insolvency and Bankruptcy Code 2016 The amount of debt is more than the threshold limit prescribed for the initiation of the CIRP against the Corporate Debtor. Accordingly, we admit this application and order as under: ORDER 1. Corporate Debtor M/s. Rajpal Abhikaran Private 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 continu....
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.... Resolution Process as per the provision of Insolvency and Bankruptcy Code, 2016 r.w Regulation made thereunder: 5. The IRP shall perform all his functions as contemplated inter-alia, by Sections 17, 18, 20 & 21 of the Code. It is further made clear that all personnel connected with. Corporate Debtor, its Promoter or any other person associated with management of the Corporate Debtor are under legal obligation under Section 19 of the Code extend every 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 Adjudicatin....