TaxTMI 
TaxTMI 
2022 (11) TMI 504
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....corporate debtor/respondent'). The present petition has been filed in Form 5 as prescribed in Rule 6 (1) of the Rules. The petition is supported by affidavit of Mr. Rama Nand Gupta, Director of the operational creditor, who has been authorized by Board Resolution dated 06.08.2019 (Annexure P-11). 2. The corporate debtor, namely, Compaq International Private Limited, is a company incorporated on 20.04.2012 under the Companies Act, 1956, having CIN U36100HR2012PTC045685 and its registered office is at VPO- Shadipur, Yamuna Nagar, Haryana- 135001. Therefore, the matter falls within the territorial jurisdiction of this Adjudicating Authority. Copy of master data of the corporate debtor is at Annexure P-2 of the petition. 3. The brief facts, as stated in the petition, are that the operational creditor, supplied Polyester Resin to the corporate debtor from time to time pursuant to purchase order placed through telephone and/or mail and also received payment through RTGS/Cheque from time to time. It is further stated that as on 20.11.2018, the corporate debtor had outstanding balance of Rs. 6,95,957/- and the operational creditor sent a legal notice through e-mail dated 20.11.20....
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....posed by learned Practicing Company Secretary for the petitioner/operational creditor that in compliance of order dated 02.03.2020 notice of the petition was sent to the respondent/corporate debtor through e-mail on 18.03.2020, as provided in the master data of the corporate debtor and the same has not bounced back. Further, it has been stated that on 17.03.2020 notice was also sent through speed post at registered address of the corporate debtor as provided in the master data of the corporate debtor, however, since speed post tracking details were not available on the website of the Postal Department, so complaint was lodged with the Department twice through letter dated 11.07.2020 and 26.08.2020 (Annexure 4) which was duly acknowledged and through e-mail dated 27.08.2020 (Annexure 4), the Postal Department confirmed that the Speed Post had been delivered on 21.04.2020 by Shadi Pur Branch Post Office. 7. When the matter was listed on 10.03.2021, there was no representation on behalf of the respondent/corporate debtor and in the interest of justice, yet another opportunity to file the reply was granted to it and the petitioner/operational creditor was directed to serve copy of o....
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.... corporate debtor, was delivered and tracking report showing its delivery has also been annexed with the petition. 11. The next issue for consideration is whether the operational debt was disputed by the corporate debtor. The petitioner/operational creditor has filed an affidavit dated 06.02.2019 (Annexure P-9) under Section 9(3)(b) of the Code, wherein it has been deposed that after the expiry of the period of ten days from the date of delivery of the demand notice, it has not received any payment from the corporate debtor and further that there is no reply given by the respondent/corporate debtor to a dispute of the unpaid operational debt. Further, it has been deposed that no notice was given by the respondent/corporate debtor relating to the dispute of the unpaid operational debt and has further undertaken that there is no pre-existing dispute between the parties. 12. The other issue for consideration is whether this application was filed within limitation. A perusal of the case file shows that the application was filed vide Diary No. 1379 dated 19.02.2020, and the date of default as is mentioned in Part-IV of Form 5 is 25.01.2019 i.e. the date on which the respondent/cor....
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....proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Operational Assets and Enforcement of Security Interest Act, 2002; and d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 18. It is further directed that the supply of essential goods or services to the corporate debtor as may be specified, shall not be terminated or suspended or interrupted during moratorium period. The provisions of Section 14(3) shall, however, not apply to such transactions as may be notified by the Central Government in consultation with any operational sector regulator and to a surety in a contract of guarantee to a corporate debtor. 19. The ord....
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....rd 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; v.) 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; vi.) This Adjudicating Authority directs the ex-management and promoters of the corporate debtor to specifically comply with the provisions of the Sub Regulation (2) of Regulation 4 of the Insolvency Resolution Process for Corporate Persons Regulations, 2016. This Adjudicating Authority further directs that the Interim Resolution Professional should also make all efforts simultaneously to retrieve the required information from the computerized data of the corporate debtor from the systems handed over to the Interim Resolution Professional a....