TaxTMI 
TaxTMI 
2021 (12) TMI 906
X X X X Extracts X X X X
X X X X Extracts X X X X
....rkhand, seeking initiation of corporate insolvency resolution process in respect of Biharilal Greenwood Private Limited, CIN: U36912WB2016PTC209314, a corporate entity, having its office Plot No. 2372, 2374, 2375, 2376, Tali Centre, Village-Durga, Post Office-Chekya, Police Station-Kotshila, District-Purulia, West Bengal. (hereinafter referred as the Corporate Debtor). 3. It is submitted by the Operational Creditor that by way of an agreement dated 4th January, 2019 entered into between the Corporate Debtor and the Operational Creditor, the Operational Creditor was appointed as the Super Distributor by the Corporate Debtor in respect of their goods in the brand of "MARBONE' in the territory of Ranchi, East Singhbhum, Palamau, West Sing....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... papers and the petition having been filed on 1st October, 2019, there is no issue as regards limitation involved in this petition. 6. It is submitted that the Corporate Debtor issued a Cheque bearing No. 527518 dt. 31.05.2019 drawn on State Bank of India, which was dishonoured when it was presented for payment. 7. In addition to the Emails, the Operational Creditor issued letter dated 31st July, 2019 demanding the aforesaid amount of Rs. 23,17,239/- which was duly received by the Corporate Debtor but there was no response. It is submitted that the Operational Creditor further sent another notice dated 4th September, 2019 under section 8 of the Code by Speed Post which was also duly served on the Corporate Debtor. The Track Report indicat....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... to defend itself. 12. We, therefore, have no hesitation in accepting and admitting the petition and order initiation of CIRP against the Corporate Debtor in this matter. 13. The Operational Creditor though proposed name of Insolvency Resolution Professional. We, therefore, appoint Ms. Meera Prasad, IRP having Reg. No. IBBI/IPA-003/IP-N00278/2020-2021/13212, the Ms. Meera Prasad to act as Interim Resolution Professional (IRP). She shall file Form-2, and that no disciplinary proceedings are pending against her with the Board. 14. We have heard the Ld. Counsel for the parties and gone through the petition and documents placed on record by the Operational Creditor. 15. The application of the Operational Creditor is otherwise complete in al....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); d) The recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. v) The supply of essential goods or services rendered to the corporate debtor as may be specified shall not be terminated, suspended, or interrupted during the moratorium period. vi) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. vii) The order of moratorium shall have effect from the date of admission till the completion of the corporate insolvency resolu....