2022 (7) TMI 880

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.... Bankruptcy Code, 2016 (for brevity 'IBC' / 'Code'), by Mr. Paul Gittins, Director of Aviagen India Poultry Breeding Company Private Limited (for brevity 'Operational Creditor' / 'Petitioner') with a prayer to initiate Corporate Insolvency Resolution Process (CIRP) in case of M/s Hygiene Feeds & Farms Private Limited (for brevity 'Corporate Debtor'/ 'Respondent'). 2. The Corporate Debtor namely, M/s Hygiene Feeds & Farms Private Limited, is a Company incorporated on 07.05.2010 under the provisions of Companies Act, 1956 with CIN No.U01210HR2010PTC040500 with its registered office at Village Adiyana, Tehsil Madlauda, Panipat, Haryana - 132113. Hence, the territorial jurisdiction lies with this Adjudicating Authority. Copy of master data of ....

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....ner. Keeping in view of this, we appoint Mr. Harsh Garg, Insolvency Resolution Professional. 7. Accordingly, order dated 07.07.2021, notice of this petition issued to the corporate debtor to show cause as to why this petition be not admitted. It is to be noted that despite substituted mode of service i.e. through newspaper publication, none appeared on behalf of the respondent-corporate debtor. The respondent-corporate debtor was proceeded ex parte vide order dated 01.11.2022. 8. We have heard the learned counsel for the petitioner have perused the records. 9. The first issue for consideration is whether the demand notice in Form 3 dated 11.11.2020 was properly served. The petitioner has placed a written acknowledgement duly received by ....

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....make payment of the aforesaid amount due as mentioned in the statutory notice till date. Thus, the conditions under Section 9 of the Code stand satisfied. Accordingly, the petitioner proved the debt and the default, which is above the threshold limit. 14. In the present petition, all the aforesaid requirements have been satisfied. It is seen that the petition preferred by the petitioner is complete in all respects. The material on record clearly goes to show that the respondent committed default in payment of the claimed operational debt even after demand made by the petitioner. In view of the satisfaction of the conditions provided for in Section 9(5)(i) of the Code, we admit the petition for initiation of the CIR Process in the case of t....

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....he date of this order till completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-section (1) of Section 31 or passes an order for liquidation of the corporate debtor under Section 33 as the case may be. 17. The Law Research Associate of this Tribunal has checked the credentials of Mr. Harsh Garg and there is nothing adverse against him. In view of the above, we appoint Mr. Harsh Garg, Registration No.IBBI/IPA-001/IP-P00243/2017-18/10472, E-mail: [email protected], Mobile No.9815343200 as the Interim Resolution Professional with the following directions:- i.) The term of appointment of Mr. Harsh Garg shall be in accordance with the provisions of Section 16(5) of the Code;....

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.... 6 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 of the initiation of the Corporate Insolvency Resolution Process in terms of Section 13 (1) (b) of the Code read with Section 15 calling for the submission of claims against Corporate Debtor; vi.) It is hereby directed that the Corporate Debtor, its Directors, personnel, and the persons associated with the management shall extend all cooperation to the Interim Resolution Professional in managing the affairs of the Corporate Debtor as a going concern and extend all cooperation in accessing books and records as well as assets of the Corporate Debtor; vii.) The Interim Resolution Professional shall after collation of....