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2017 (11) TMI 1273 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - whether the petitioner has been able to satisfy the requirement of Section 7 of the Code? - Held that:- From the perusal of the record, we are satisfied that the ‘Financial Creditor’ has proved by overwhelming evidence that default has occurred, which meets the requirement of Section 3(11) and (12) read with Section 7(3)(a) and Section 7 (5) of the Code. A copy of CRILC Report (Annexure-FC33), a copy of Banker’s Book as per Banker’s Evidence Act, 1891 (Annexure- FC30), various letters issued by Financial Creditor including the one declaring the account as NPA show overwhelmingly the default committed by the ‘Corporate Debtor’. We further find that the application is complete in all other respects as the Insolvency Professional, Mr. Mukesh Mohan has been duly proposed and he has also made full declaration stating that no disciplinary proceedings are pending against him. The other objection by referring to the provisions of SICA and SARFAESI would also not detain us from admission of the petition because Section 238 of the Code contained a non-obstante clause in the widest terms possible. The parliament in its wisdom is presume to have knowledge of the provision of various statues prevailing earlier to the enforcement of the Code. Thus this petition is admitted. Shri Mukesh Mohan who is duly registered with Insolvency and Bankruptcy Board of India IBBI/IPA-001/IP-P00018/2016- 17/10042) has been proposed as an Interim Resolution Professional. He is hereby appointed as an Interim Resolution Professional. He has filed his certificate of registration with Insolvency and Bankruptcy Board of India. He has also filed his written communication dated 23.08.2017 in connection with the application to initiate Corporate Insolvency Resolution Process. The disclosure has been made in the letter dated 23.08.2017. No disciplinary proceedings are pending against him.
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