2021 (12) TMI 340

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er (J)) For the Appellant : Murali Mohan, Advocate For the Respondents : J.V.L. Bharati, Advocate ORDER Telaprolu Rajani, J. (Member (J)) 1. This Petition is filed by M/s. Vasudha Security and Facility Management Pvt. Ltd., ("hereinafter referred to as Operational Creditor") seeking initiation of Corporate Insolvency Resolution Process in respect of M/s. Bio Ethanol Agro Industries ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ity personal to various industries across India and the Corporate Debtor is a Limited Company incorporated under Companies Act and business dealings with Assignor M/s. Vasudha Facility Solutions Pvt. Ltd. and used to avail of security services of Assignor and entered assignment deed dated 05.01.2021 in favour of Operational Creditor. 3. The Operational Creditor issued demand notice dated 13.01.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....editor and agreed for the CIRP to be initiated. 5. Hence I am of the considered view that it is a fit case to admit and order initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Operational Creditor did not suggest any name as Insolvency Resolution Professional (IRP) and sought the Tribunal to appoint an IRP. Hence, Mr. Srinivas Gudla Rao, (Registratio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....take necessary steps in furtherance of the CIRP in terms of Sections 13(2), 15, 17, 18 and 20 of Code and Rules made thereunder. iii. Moratorium in respect of the Corporate Debtor is hereby declared in terms of Section 14 of the Code. iv. The Directors, Promoters or any other person(s) associated with the management of Corporate Debtor shall extend all assistance and cooperation ....