TaxTMI 
TaxTMI 
2022 (9) TMI 1126
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....("the Operational Creditor"), [CIN: L51900MH1984PLC034501] seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Balmukh Goldjewel & Multitrading Private Limited ("the Corporate Debtor"), [CIN: U74110PN2016PTC165024]. 2. The Corporate Debtor is a company incorporated on 16.06.2016 under the Companies Act, 2013, as a private company limited by shares with the Registrar of Companies, Maharashtra, Pune. Its registered office is at Office No. 1, Sn. 57/3, Mayura Vihar Blg-Q Kothrud Pune Pune Mh 411029. Therefore, this Bench has jurisdiction to deal with the present petition. 3. The present petition was filed by the Operational Creditor before this Adjudicating Authority on the ground that the Corporate Debtor failed to ma....
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....ice is 24.12.2019. d) The Operational Creditor had served a Demand Notice in Form 3 dated 12.03.2021 to the Corporate Debtor which is at pp 56-63 of the Petition in terms of section 8 of the IBC. The said Demand Notice was served on the Corporate Debtor on 06.04.2021. The Corporate Debtor has not filed replied to the Demand Notice. 5. The case of the Corporate Debtor is as under: a. The Counsel for the Corporate Debtor was present at the time of hearing and admitted that he is not able to pay the debts to the Operational Creditor and choose not to file the reply to the main Company Petition despite giving opportunities to file reply in the matter. The Main CP was reserved for order on 15.07.2022. Findings: 6. We have heard the ar....
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....efinery Limited, ("the Operational Creditor"), [CIN: L51900MH1984PLC034501] under section 9 of the IBC read with rule 4(1) of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 for initiating Corporate Insolvency Resolution Process (CIRP) against Balmukh Goldjewel & Multitrading Private Limited ("the Corporate Debtor"), [CIN: U74110PN2016PTC165024], the Corporate Debtor, is admitted. a) There shall be a moratorium under section 14 of the IBC, in regard to the following: (i) 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; (ii) Transfe....
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....orate Persons) Regulations, 2016. e) Mr. Sandeep Jawaharlal Singhal, an Insolvency Professional registered with Indian Institute of Insolvency Professionals of ICAI having registration number IBBI/IPA-001/IP-P00519/2017- 2018/10920. He is appointed as IRP for conducting CIRP of the Corporate Debtor and to carry the functions as mentioned under IBC, the fee payable to IRP/RP shall comply with the IBBI Regulations/Circulars/Directions issued in this regard. The IRP shall carry out functions as contemplated by Sections 15,17,18,19,20,21 of the IBC. f) During the CIRP Period, the management of the Corporate Debtor shall vest in the IRP or, as the case may be, the RP in terms of section 17 of the IBC. The officers and managers of the Corpora....