TaxTMI 
TaxTMI 
2021 (6) TMI 112
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....ad with Rule 6 of The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 [hereinafter referred to as "the Rules"], as operational creditor/applicant. 2. The applicant/operational creditor, a partnership firm, having its registered office at Ahmedabad, engaged in manufacture and supply of PP woven sacks bags, has submitted that the respondent is indebted a total sum of Rs. 6,15,235/- (Rupees six lacs fifteen thousand two hundred thirty-five only) towards supply of goods made during the period from 31.07.2018 to 16.06.2019 which has fallen due after 60 days of the respective invoices as per the purchase orders. 3. In support of its claim, the applicant has annexed to the application copy of the documents like;....
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....s also found that the instant petition filed by the applicant is well within limitation and there is no denial of the operational debt or any pre-existing dispute regarding the operational debt from the side of the corporate debtor. 9. 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. 10. 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'. 11. It has been observed in Mobilox Innovativ....
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....tor 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. 13. 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. Subsection (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 announcement of initi....
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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. 17. 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. 18. The applicant/operational creditor has not proposed name of th....