TaxTMI 
TaxTMI 
2021 (6) TMI 347
X X X X Extracts X X X X
X X X X Extracts X X X X
....rity) Rules, 2016 (for brevity 'the AAA Rules') by Mr. Ajay Poddar, being the director authorized vide board resolution dated 31.10.2019 for initiation of Corporate Insolvency process in respect of Suvidha Parklift Limited, the Corporate Debtor being the Corporate Applicant itself. 2. The Applicant has averred that the company was incorporated on 12.08.1996 as a Public Limited company under the provision of Companies Act, 1956 with the Registrar of Companies N.C.T. of New Delhi and Haryana, bearing CIN No. U24111DL1996PLC081132 and having registered office at 202, 2nd Floor, Raj Tower -1, G-1, Alaknanda New Delhi 110019. The authorized share capital of the company is Rs. 25,00,000/- divided into 2,50,000/-, equity shares of Rs. 10/....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Private Limited" to "Suvidha Parklift Limited". The copies of relevant certificates of incorporation have been annexed. 4. The applicant further states that registered office of the company was changed from 133-A, Second Floor, Lane No. 1, Westend Marg, Saiduljab, New Delhi -110030 to new address at 202, 2nd floor, Raj Tower-1, G-1, Alaknanda Community Centre, New Delhi - 110019. The form INC-22 dated 04.08.2018 for change of address and the company master data has been annexed. 5. The applicant states that no business activity had been performed by the company from incorporation till 2005, as the in-principal approval for doing business of CNG kit was not received from appropriate authority. Thereafter, in order to undertake the new busi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....as going concern. 7. The following cases in the name of applicant company are pending adjudication * Summary Suit for recovery titled "Belmarks Pvt. Ltd. Vs. Suvidha Parklift Limited" pending in District Court of Saket. For recovery of Rs. 34,84,736.42/-. * Arbitration award dated 23.08.2016 for Rs. 1,49,10,107/- along with interest at the rate of 18% p.a. was passed against the applicant company. An execution petition for the said award is pending before the District Court of Saket, which is still pending. * Arbitration proceedings initiated by applicant company against National Company Engineers & Builder and M/s. Kokon India Pt. Ltd. for a claim of Rs. 2.30 crores. It is stated that the arbitration proceedings have been stayed by ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e present application is filed on the Performa prescribed under Rule 7 of the Insolvency and Bankruptcy Code, 2016 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 r/w Section 10 of the code and is complete. 13. Considering the documents on records and submission made, this Bench is of the view that the Corporate Applicant has defaulted in making payment of its debt to the creditors. Hence, this application is admitted. 14. The Corporate Applicant has proposed the name of Mr. Nishant Gaurav Gupta to be appointed as IRP, who is be and hereby appointed as IRP of corporate applicant having registration No. as IBBI/IPA-002/IP-N00572/2017-2018/11739, mobile no. 7840003243 and email address: nishantgaurav@out....