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2018 (2) TMI 196 - Tri - Insolvency and BankruptcyCorporate insolvency procedure - Held that:- The Insolvency and Bankruptcy Board of India vide its letter dated 01.01.2018 has recommended a panel of Insolvency Professionals for appointment as Insolvency Resolution Professional in compliance with Section 16(3)(a) of the Code in order to cut delay. The list of recommended Insolvency Professionals provides instant solution to the Adjudicating Authority to pick up the name and make appointment. It helps in meeting the time line given in the Code and the unnecessary time wasted firstly in asking the Insolvency and Bankruptcy Board of India to recommend the name and then to appoint such Interim Resolution Professional by Adjudicating Authority. Accordingly, we appoint Mr. Sachin Sapra, email id sachinsapra@gmail.com (Mobile No. 9910219977) as an Interim Resolution Professional. His registration number is IBBI/IPA-002/IP-N00005/2016-17/10005. The aforesaid Interim Resolution Professional has no disciplinary proceeding pending against him nor anything else has been pointed out with regard to his antecedents. The Interim Resolution Professional has filed necessary declaration in accordance with the IBBI Regulations and the provisions of the Code. In pursuance of Section 13(2) of Code, we direct that Interim Insolvency Resolution Professional shall immediately on his appointment make public announcement with regard to admission of this application under Section 7 of the Code. We also declare moratorium in terms of Section 14 of the Code. A necessary consequence of the moratorium flows from the provisions of Section 14(1)(a), (b), (c) & (d).
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