AI Drafter 
TaxTMI 
TaxTMI 
2022 (3) TMI 1223
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....dakini Contractors Pvt. Ltd., having its registered office at 9, Ezra Street, Kolkata-700001, through its Director namely Mr. Sovan Sengupta, authorised vide Board Resolution dated 11/03/2019 (Annexurer-A.1), (hereinafter referred as the Operational Creditor), seeking initiation of corporate insolvency resolution process in respect of Chandni Commercials Private Limited, (CIN: U51909WB2003PTC096775), having its Registered office at 9, Ezra Street, 1st Floor, Room No. 23, Kokata-700001 (hereinafter referred as the Corporate Debtor). 3. It is submitted that the Operational Creditor was providing services to the Corporate Debtor as per the terms and conditions of the contract for service agreement executed between the Operational Creditor a....
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....ide his affidavit and Form-2 and submitted that he has agreed to accept the appointment as IRP if an order admitting the present application is passed by this Adjudicating Authority. He has further submitted that no disciplinary proceedings are pending against him with the Board or Institute of Insolvency Professionals of ICAI. 7. On being served with the notice of the court, the Corporate Debtor has filed its reply affidavit. 8. In the reply affidavit filed on behalf of the Corporate Debtor by one of its Directors namely Pranab Kumar Das, it is submitted that the Corporate Debtor had sought time from the Operational Creditor for making payment of the outstanding amount. It is submitted that the Corporate Debtor is in the business of ....
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....Debtor has clearly admitted the liability on their part to pay the outstanding amount to the Operational Creditor and sought time to pay the debt. It is stated in the rejoinder that the intention of the Corporate Debtor is clear in their reply affidavit and the Corporate Debtor does not wish to pay the debt of Rs. 4,93,217/- and is seeking time to make the payment again and again, which is the mala fide practice of the Corporate Debtor. It is submitted that due to the failure of the Corporate Debtor in making payment, the financial condition of the Operational Creditor is also becoming very bad and it is suffering from huge financial crises. It is prayed by the Operational Creditor that the petition filed by the Operational Creditor might b....
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.... Ltd. 9, Ezra Street, Kolkata-700001. Ref: Your Letter dated 28.08.2018 Dear Sir, This has reference to your above mentioned letter. We appreciate your patience and understanding however, we regret to inform you that due to huge liquidity issue faced by our Company, the payment of outstanding in terms of the Contract for service agreement, 2018 cannot be repaid at this juncture. Therefore, you are kindly requested to consider us certain time and we will make payment at the earliest as we are speaking to our contributories to arrange the due amount and repay as per our agreement. Therefore, we would be highly grateful to you if you could kindly consider the present situation and grant us ....
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....cy Code, 2016. The I.R.P. shall cause a public announcement of the initiation of Corporate Insolvency Resolution Process and call for the submission of claims under Section 15. The public announcement referred to in clause (b) of sub-section (1) of Section 15 of Insolvency & Bankruptcy Code, 2016 shall be made immediately. iv) 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 judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; b) Transferring, encumbering, alienating or disposing of by the Corporat....
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....ruptcy Board of India, having Registration No. IBBI/IPA-002/IP-N00663/2018-2019/12108, and holding AFA under Regulation 7-A of the IBBI (Insolvency Professionals) Regulations, 2016, is hereby appointed as Interim Resolution Professional for ascertaining the particulars of creditors and convening a Committee of Creditors for evolving a resolution plan subject to production of written consent within one week from the date of receipt of this order. x) The Interim Resolution Professional should convene a meeting of the Committee of Creditors and submit the resolution passed by the Committee of Creditors and shall identify the prospective Resolution Applicant within 105 days from the insolvency commencement date. xi) The Operat....