TaxTMI 
TaxTMI 
2021 (8) TMI 1054
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...., seeking initiation of Corporate Insolvency and Resolution Process as against M/s. Spacex Furniture Private Limited (hereinafter referred to as "Corporate Debtor"). 2. From Part-I of the application, it is seen that the Operational Creditor is a Private Limited company. From Part-II of the application, it is seen that the Corporate Debtor is also a Private Limited Company incorporated on 05.04.2011 and the Registered Office of the Corporate Debtor as per the application is stated to be situated at No. 399/2-A, Sunguvarchatram Road, Kattavakkam Village, Wallajabad, Kanchipuram - 631604. From Part-Ill of the application, it is seen that the Operational Creditor has proposed one Mr. Anil Kumar Khicha as the IRP and has also filed his writt....
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....t as against the said sum of Rs. 33,99,179/-, the Corporate Debtor has made a payment of Rs. 2,00,000/- on 22.10.2019 after issuance of demand notice dated 16.10.2019. 7. Thus, it was submitted that as against the demand notice issued by the Operational Creditor, the Corporate Debtor has not made any reply, however has paid a sum of Rs. 2,00,000/- to the Operational Creditor. Hence it was submitted that the debt and default on the part of the Corporate Debtor is proved by the Operational Creditor and thus sought for the initiation of Corporate Insolvency Resolution Process as against the Corporate Debtor. 8. In relation to the Corporate Debtor, it is seen from the record of proceedings that when the matter was came up for hearing on n....
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....al Creditor, hence the default on the part of the Corporate Debtor is proved beyond any reasonable doubt. Under the said circumstances, we are constrained to initiate the CIR Proceedings in relation to the Corporate Debtor with the directions as follows: 10. Thus taking into consideration the facts and circumstances of the case as well as the position of Law, we are of the view that the Petition as filed by the Operational Creditor is required to be admitted under Section 9(5) of the IBC, 2016. The Operational Creditor has proposed the name Mr. Anil Kumar Khicha, Reg. No. IBBI/IPA-001/IP-P00422/2017-2018/10745 and a written communication in the format prescribed under Form 2 of the Insolvency and Bankruptcy Board of India (Application to....
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....terest Act, 2002; d. The recovery of any property by an owner or lessor where such property is occupied by or in the possession of the respondent. Explanation.-For the purposes of this sub-section, it is hereby clarified that notwithstanding anything contained in any other law for the time being in force, a licence, permit, registration, quota, concession, clearance or a similar grant or right given by the Central Government, State Government, local authority, sectoral regulator or any other authority constituted under any other law for the time being in force, shall not be suspended or terminated on the grounds of insolvency, subject to the condition that there is no default in payment of current dues arising for the use ....