2021 (8) TMI 154

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..... The Operational Creditor M/s. Dr. Lal Path Labs Ltd., is seeking an Order to initiate Corporate Insolvency Resolution Process (hereinafter referred as 'CIRP') against the Corporate Debtor viz., M/s. Aapka Urgicare Private Limited, declare moratorium and appoint Interim Resolution Professional (hereinafter referred as 'IRP'). 2. The Operational Creditor/Petitioner has averred as follows:- a. The Corporate Debtor executed Memorandum of Understanding dated 18.10.2012, 29.10.2012 and 01.05.2013 with Operational Creditor to avail the diagnostic services being provided by the operational creditor, and to pay the agreed consideration to the operational creditor within agreed timeline and in case there is delay in the ....

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....anding as agreed in Settlement agreement dated 29.11.2018. d. It is stated that outstanding amount of Rs. 4,00,000/- along with pendent lite and future interest @ 18% per annum from the date of default in payments as per the settlement agreement dated 29.11.2018 till the actual date of payment fell due on 26.02.2019, 26.03.2019, 26.04.2019 and 26.05.2019 and same has recurred on a monthly basis. 3. The Corporate Debtor has been provided with several opportunities to cause appearance and file objection. However, as none appeared on behalf of the corporate debtor during the proceeding and after being satisfied that the service has been satisfactorily affected as evident from the proof of service filed by the Petitioner, this tribu....

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.... corporate debtor by signing the Settlement agreement dated 29th November 2018 annexed as Annexure A-8 with the petition. Hence, this Tribunal is inclined to admit this application and accordingly initiate the process of CIRP of the Corporate Debtor. The Applicant has not proposed any insolvency resolution professional. This Tribunal, hereby, appoints Insolvency Professional namely, Mr. Prabhat Jain having Registration Number IBBI/IPA-001/IP-P01980/2020-2021/13123 (Email [email protected]) as Interim Resolution Professional from the List provided by IBBI. 6. The IRP is directed to take charge of the respondent corporate debtor's management immediately. He is also directed to cause public announcement as prescribed under section 15 ....