2019 (9) TMI 1577

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....ard dated 30.05.2013. Hence this petition is filed under Section 9 of Insolvency and Bankruptcy Code, 2016, R/w Rule 6 of Insolvency & Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, seeking admission of the Petition, initiation of Corporate Insolvency Resolution Process, granting moratorium and appointment of Interim Resolution Professional as prescribed under the Code and Rules thereon. 2. The brief averments stated in the Petition are that: a. The applicant avers that respondent placed the work order dated 05.12.2002 on the applicant. The applicant duly performed all the obligations under work order and was raising invoices for the money due and payable to it under the work order. However, the respondent i....

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.... - C. e. The Applicant further averred that the corporate debtor preferred a petition under Section 34 of the Arbitration and Conciliation Act, 1996 before the Hon''ble XXIV Additional Chief Judge, City Civil Court Hyderabad to set aside the arbitral award vide O.P. No. 739 of 2014. However, the Hon'ble Court vide order dated 27-01-16 dismissed the petition without costs. A copy of the order is annexed as Annexure - D. In view of the above, the award passed by the arbitral tribunal still persists and the corporate debtor is liable to pay a sum of Rs. 65,18,000/- along with an interest of 24% per annum computable from the date of the Claim Statement till the date of actual payment. f. The applicant has sent demand....

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....reditor. This Petition is filed by operational creditor under section 9 of I&B Code. Operational creditor filed Form-5 and furnished the information with regard to the operational debt which is committed default by corporate debtor. 5. The notice was served on the corporate debtor. Postal track record is filed through Memo. Learned counsel contended that corporate debtor has not replied or failed to defend. The claim is submitted within period of time prescribed under Limitation Act, 1963. Thus, the claim is within limitation. There is no representation or reply by the Corporate Debtor. Corporate debtor was served with notice before admission however, corporate debtor remained absent and it did not contest the claim. 6. In v....

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.... Petition under Section 9 of IBC, 2016, declaring moratorium for the purposes referred to in Section 14 of the Code, with following directions: - (1) The Bench hereby prohibits the institution of suits or continuation of pending suits or proceedings against the Corporate Debtor including execution of any judgment, decree or order in any court of law, Tribunal, arbitration panel or other authority; Transferring , encumbering, alienating or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; any action to foreclose, recover or enforce any security interest created by the Corporate Debtor in respect of its property including any action under Securitization and Reconstruction of Fin....