TaxTMI 
TaxTMI 
2022 (8) TMI 1055
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....'), by Apavarga Trading Company (for brevity 'Operational Creditor' / 'Petitioner'), represented by its Partner, Mr. Moti Kumar, with a prayer to initiate Corporate Insolvency Resolution Process (CIRP) in case of IKO Hospitality Private Limited (for brevity 'Corporate Debtor'/ 'Respondent'). 2. The Corporate Debtor namely, IKO Hospitality Private Limited, is a Company incorporated on 07.05.2013 under the provisions of Companies Act, 1956 with CIN No.U55101HR2013PTC049060 with its registered office at H-901, Pilot Court, Esel Tower, M.G. Road, Gurgaon, Haryana - 122001. Hence, the territorial jurisdiction lies with this Adjudicating Authority. Copy of master data of the corporate debtor is attached with the main petition and marked as Annex....
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....fter as per order dated 06.07.2022 of this Tribunal, the authorized representative for petitioner-operational creditor informed the date of hearing to the opposite counsel and the compliance affidavit has been placed on record as per the direction. Despite service, there was no representation from the respondent-corporate debtor and even no reply is filed. In these circumstances, this Adjudication Authority was constrained to proceed with the matter and the respondent has been set ex parte. 8. We have heard the learned counsel for the petitioner and have perused the records. 9. The first issue for consideration is whether the demand notice in Form 3 dated 16.08.2019 was properly served. The petitioner has placed a tracking report, whereun....
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....1205(E) dated 24.03.2020) by the respondent-corporate debtor. 13. It is noted that the corporate debtor has failed to 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. It is evident from the above-mentioned facts that the liability of the corporate debtor is undisputed. Accordingly, the petitioner proved the debt and the default, which is above 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 oper....
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....ied by the Central Government in consultation with any operational sector regulator and to a surety in a contract of guarantee to a corporate debtor. 16. The order of moratorium shall have effect from the 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 corporate debtor under Section 33 as the case may be. 17. The Law Research Associate of this Tribunal has checked the credentials of Mr. Tarsem Chand Garg and there is nothing adverse against him. In view of the above, we appoint Mr. Tarsem Chand Garg, Registration No. IBBI/IPA-001/IP-P01410/2018-2019/12451, E-mail: [email protected]....
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....ning his profession and as an Insolvency Professional with high standards of ethics and moral; v.) The Interim Resolution Professional shall cause a public announcement within three days as contemplated under Regulation 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 ....