2022 (6) TMI 1045

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....ration Limited, the Corporate Debtor (hereinafter referred to as "CD") for non-payment of outstanding dues by the CD. 2. CD was incorporated on 26-10-2000, having its registered office in Mumbai. This Bench has jurisdiction to deal with this petition. 3. The FC has drawn the attention of the court to the promissory note dated 23-02-2012 wherein CD had promised to repay the loan of Rs. 50,00,000 at 15% interest p.a. on demand (Pg 15 of the Petition). 4. Further, the FC has submitted confirmation of accounts provided by CD as on 01-04-2015 (Pg. 33) confirming the principal amount of debt of 50 Lakh and Interest accrued thereon totalling debt of Rs. 56.84 Lakh. 5. By a letter dated 07-06-2016, CD acknowledged that a loan of Rs. 50,00,000 w....

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....tition is within limitation. 10. As on the date of filing Petition (25-10-19) an amount of Rs. 90,39,584 is due and outstanding from CD towards the loan along with the interest as availed from the FC as annexed in Exhibit J. 11. As per Petitioner, the CD was convicted on 21-02-2019, under Sec. 138 r/w Sec. 141 of the Negotiable Instruments Act, 1881 by the court of Learned Metropolitan Magistrate, Mazgaon, Mumbai. The same has been annexed in Exhibit K. 12. It is observed from the records that CD has been given multiple opportunities to appear before this tribunal and plead his case including vide order dated 22-03-2022. In compliance of the order of this Tribunal dated 22-03-2022, FC had issued a notice to CD intimating the next date of....

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....rium:- (i) The supply of essential goods or services to the CD, if continuing, shall not be terminated or suspended or interrupted during the moratorium period; (ii) The provisions of Section 14(1) of the IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any sectoral regulator; (d) The moratorium shall have effect from the date of this order till the completion of the CIRP or until this Adjudicating Authority approves the resolution plan under Section 31(1) of the IBC or passes an order for liquidation of CD under section 33 of the IBC, as the case may be. (e) Public announcement of the CIRP shall be made immediately as specified under section 13 of the IBC read with regulatio....