2021 (5) TMI 133

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.... 2016 (Rules) by M/s. Esskkaay Construction (Applicant/Operational Creditor) against M/s. Fortune Mix India Private Limited (Respondent/Corporate Debtor), on the ground that Corporate Debtor defaulted an amount of Rs. 9,55,510/-. This Application was filed on 30.09.2019. 2. Learned Counsel for the Operational Creditor averred that about 799.92 tonnes of M. Sand and quarry dust were ordered for purchase by the Corporate Debtor from the Operational Creditor, on credit on various dates and the Corporate Debtor undertook to make payments for the purchase of the materials within 30 days from the date of invoice. The invoices were duly raised after delivery of the materials but the Corporate Debtor failed to make the payments. As a proof of ha....

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....19, the Respondent had sought time to take instructions and the matter was posted for hearing on 15.04.2021 for final disposal. The Corporate Debtor has made part payment towards outstanding. The last payment of a sum of Rs. 2,00,000/- was pending. The Corporate Debtor issued cheques and failed to honour the same. 6. By taking into consideration the facts mentioned supra, this Adjudicating Authority is inclined to admit the Application as has been filed by the Operational Creditor and consequently Corporate Insolvency Resolution Process is initiated. Since the Operational Creditor has not named the Insolvency Resolution Professional, this Tribunal based on the list furnished by Insolvency and Bankruptcy Board of India appoints Mr. S. Kam....

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....14(3) as extracted hereunder: (i) The supply of essential goods or services to the Corporate Debtor as may be specified shall not be terminated or suspended or interrupted during moratorium period. (ii) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. 8. The duration of the period of moratorium shall be as provided in Section 14(4) of the Code and for ready reference reproduced as follows: (iv) The order of moratorium shall have effect from the date of such order till the completion of the Corporate Insolvency Resolution Process: Provided that where at any time during the Corporate In....