2019 (11) TMI 1727

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....HON'BLE MEMBER (T) ORDER PER SMT. INA MALHOTRA, MEMBER (J) The petitioner as a Financial Creditor has prayed for initiation of the Corporate Insolvency Resolution of the Respondent/Corporate Debtor under Section 7 of the Insolvency & Bankruptcy Code, 2016 (herein after referred to as the "Code) for its inability to liquidate its debt. 2. As per averments, the Financial Creditor is enga....

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....ject could not be completed for reasons beyond control. They confirm the cancellation of the unit and their undertaking to refund the principal amount. Letter to this extent is also on record. However on account of financial constraints, they are unable to do so. The AR of the company who was present in Court has also confirmed this submission. It is an admitted fact that the Corporate Debtor has ....

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....over or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession f the corporate debtor. Further, ....

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....ct from the date of such approval or liquidation order, as the case may be." 5. The Financial Creditor has proposed the name of Mr. Bhim Sain Goyal as the IRP in this case. His particulars are: Registration No. IBBI/IPA-002/IP-N000726/20 18-19/12216 email- bsgoyal l?gmail.com address: 405, Skylark Building, 60, Nehru Place, National Capital Territory of India, 110019. We therefore confirm him a....