2023 (1) TMI 1245

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....and Bankruptcy Code, 2016 (for brevity, the 'IBC, 2016') read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 with a prayer to initiate the Corporate Insolvency Resolution Process against M/s. Mansfield Cables Company & Infrastructure Private Limited (for brevity, the 'Respondent'). 2. The Respondent namely, M/s. Mansfield Cables Company & Infrastructure Private Limited is a Company incorporated on 13.05.2010 with CIN U45200DL2010PTC202603 under the provisions of the erstwhile Companies Act, 1956 having its registered Office at 208, Friends Chambers S-511, School Block, Shakarpur, Vikas Marg, Delhi - 110092, which is within the territorial jurisdiction of this Bench. The Authorized Share C....

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....ng the relevant period and is entitled to recover the same from the Respondent. 5. It is submitted by the Applicant that the Respondent had also issued the Confirmation of Accounts dated 01,04.2017, thereby confirming the balance of the above referred invoices. 6. The particulars of the Operational Debt claimed and date of default are mentioned in Column II of Part IV of the application, which is reproduced below, for the sake of convenience: 7. Thus, as per Part IV of the Application, the Applicant has claimed an amount of Rs.1,28,75,079/- as unpaid operational Debt including interest and relied on 01.04.2017 as the date of default. 8. It is stated by the Applicant that the Demand Notice dated 18.10.2019 issued under Section 8 ....

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....tional debt, the amount of which is higher than the minimum threshold prescribed under the IBC 2016. The present petition filed under Section 9 is complete and fulfills all the requirements of law. Therefore, the petition is admitted in terms of Section 9(5) of the IBC. Accordingly, the CIRP is initiated and moratorium is declared in terms of Section 14 of the Code. As a necessary consequence of the moratorium in terms of Section 14(1) (a), (b), (c) & (d), the following prohibitions are imposed, which must be followed by all and sundry: "(a) 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, arbitra....