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2017 (7) TMI 697 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - solvency and Bankruptcy Code, 2016 - Held that:- Financial Creditor has placed on record all the documents concerning the default and the name of resolution professional proposed to act as an interim resolution professional. We are satisfied that the default has occurred and the application in all other respects is complete. Moreover, there is no opposition despite the fact that the service has been effected. Therefore, we are inclined to admit this petition. This petition is admitted. The necessary consequence of admission is that a declaration is made in terms of Section 13(a) for the purpose of section 14 of the Code. A direction is issued to the interim resolution professional Shri Sanjay Kumar Agarwal to make public announcement in accordance with the provisions of Section 13(1)(b) of the Code. The corollary of the declaration is that moratorium under Section 14 of the Code shall come in operation from the date of this order.
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