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2018 (10) TMI 1216 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - accrual of debt - Held that:- We find that advancement of loan and default stand admitted. Even otherwise there is overwhelming documentary evidence on record to support those findings in the case. Reading the provisions of Section 7(2) and Section 7(5) of IBC form and manner of the application has to be the one as prescribed. It is evident from the record that the application has been filed on the proforma prescribed under Rule 4 (2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 read with Section 7 of IBC. We are satisfied that a. default has occurred and the application under sub-section (2) of Section 7 is complete. The name of the IRP has been proposed and there are no disciplinary proceedings pending against the proposed Interim Resolution Professional. As a sequel to the above discussion, this petition is admitted and Mr. Debashis Nanda with the address C-304, Paradise Apartments 40 IP. Extension, Delhi-110092 and Mobile No. 9717000163. His registration number is IBBI/IPA-003/TP-P00040/2017-18/10316 is appointed as the Interim Resolution Professional.
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