2022 (5) TMI 1463

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....2016 (hereinafter referred to as "IBC" of "the Code") for initiation of Corporate Insolvency Resolution Process (hereinafter referred to as "CIRP") against Anindya Infratech Private Limited, the Corporate Debtor. 3. In support of its claim, the operational creditor has placed on record copies of work order dated 17.10.2015 and 01.10.2016 which was extended on 29.05.2017 and invoices were raised against the work order for supply of cranes on lease/hire charges from 31.12.2016 till 19.07.2017. The total amount for which the invoices were raised against the corporate debtor was Rs.73,74,504/-, however, certain invoices were cleared and the amount of Rs.19,95,817/- remains to be due and payable. Despite requests, the amount due was not paid.....

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.... 40 years old Crane at the site. After objections were raised by the Corporate Debtor, they assured replacement. It is further submitted that the corporate debtor has also paid an amount of Rs.5.00 lakh towards mobilisation of the Operational Creditor's Crane, which has been also concealed by the Operational Creditor in its petition. 9. The Corporate Debtor has also pleaded that it has not received any demand notices dated 04.07.2018 and 21.01.2019 issued by the Operational creditor. 10. In his rejoinder submissions, Ld. Counsel for the Operational Creditor submitted that the Operational Creditor has charged interest of 24% instead of 18 % as a penal interest for inordinate delay on payment of dues. Ld Counsel submitted that it is rea....

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....the limitation. There is no pre-existing dispute of any kind that inhibits the admission of the present petition.. 15. The operational creditor has not proposed the name of the Interim Resolution Profession (IRP). Therefore, we propose to appoint someone from the panel of names made available to this Bench by the Insolvency & Bankruptcy Board of India (IBBI) to act as the IRP. (a) The petition filed by Sanghvi Movers Limited, the Operational Creditor under section 9 of the Insolvency & Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against the Corporate Debtor, Anindya Infratech Private Limited, is hereby admitted. (b) There shall be a moratorium under section 14 of the IBC. (c) Th....

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....formation in their knowledge to the IRP within one week from the date of receipt of this Order, in default of which coercive steps will follow. It is directed that the key managerial personnel of the Corporate Debtor shall coordinate with the Interim Resolution Professional to hand over the documents, and this shall be done without further delay. (g) The IRP/RP shall submit to this Adjudicating Authority quarterly reports with regard to the progress of the CIRP in respect of the Corporate Debtor. (h) The Operational Creditor shall deposit a sum of Rs.2,00,000/- (Rupees two lakh only) with the IRP to meet the expenses arising out of issuing public notice and inviting claims. These expenses are subject to approval by the Com....