TaxTMI 
TaxTMI 
2019 (11) TMI 1656
X X X X Extracts X X X X
X X X X Extracts X X X X
....d with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 has been filed by M/s. Limtex Tea & Industries Limited, through its Authorised person Mr. Girijesh Kumar Singh, who has been authorized by the Chairman of M/s. Limtex Tea & Industries Limited, hereinafter referred to as the "Financial Creditor" against M/s. Shri Bihariji Cold Rollers (P) Ltd, a Corporate Entity, having its registered office at Kolkata, hereinafter referred to as the Corporate Debtor, seeking Corporate Insolvency Resolution Process of the Corporate Debtor on the ground that a loan of Rs. 25,00,000/- (Rupees Twenty Five Lacs Only) was given by the Financial Creditor to the Corporate Debtor through bank on 6th June, 2011 which was ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....d 14th April, 2018 declared his eligibility for the appointment along with certificate of registration, if the application is admitted. 7. It is submitted that the loan of Rs. 25,00,000/- was a loan given on interest @ 15% p.a. In support of the application the Financial Creditor has filed a copy of the money receipt dated 6th June, 2011 duly acknowledged by the Corporate Debtor, a copy of the Bank statement issued by Syndicate Bank indicating that a sum of Rs. 25,00,000/- was transferred to Shri Bihariji Cold Rollers (P) Limited on 6th June, 2011. The Financial Creditor has also placed on record copies of the ledger account from 1st April, 2011 onwards to show that the amount of interest was being received by the Financial Creditor on the....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rate Insolvency Resolution Process against the Corporate Debtor, M/s. Shri Bihariji Cold Rollers (P) Limited is hereby admitted. ii) Moratorium is declared for the purposes referred to in Section 14 of the Insolvency & Bankruptcy Code, 2016. The IRP shall cause a public announcement of the initiation of Corporate Insolvency Resolution Process and call for the submission of claims under Section 15. iii) Moratorium under Section 14 of the Insolvency & Bankruptcy Code, 2016 prohibits the following: a) The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgement, decree or order in any court of law, tribunal, arbitration panel or other authority; (b) Transferring,....