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2017 (9) TMI 1448 - Tri - Insolvency and BankruptcyInitiation of Corporate Insolvency process in respect of respondent corporate debtor - Held that:- A certificate dated 20/07/2017 issued by the Karur Vysya Bank, has been placed on record in which it has been confirmed that payment received through the corporate debtor in the account of operational creditor during financial year 2014-2015 and 2015-2016 is ₹ 20,34,32,000/- and last payment received on 29.12.2015. Another certificate dated 20.07.2017 issued by the Bank of India has also been placed on record in which it has been certified that payment amounting to ₹ 3,36,16,634/- from corporate debtor has not been deposited between 27.05.2017 to 20/07/2017 in the account of the Operational Creditor. The operational creditor has filed relevant bank account statements duly certified by both the Banks. In view of the above, we are satisfied that the present application is complete and the Operational Creditor is entitled to claim its dues towards the goods supplied to the corporate debtor and there has been a default in payment of the operational debt. Therefore, on fulfilment of the requirements of section 9 (5)(i)(a) to (e) of the Code, the present application is admitted. A moratorium in terms of section 14 of the Code issued. Mr. Prabhjit Singh Soni, is appointed as Interim Resolution Professional, who shall take statutory steps as envisaged under section 15, 17 and 18 of the Code. Since, the tenure of the IRP under section 16(5) shall not exceed 30 days from the date of his appointment, the IRP is directed to submit his report at the earliest but not later than 22.09.2017.
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