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2017 (8) TMI 575 - Tri - Insolvency and BankruptcyInitiation of corporate insolvency resolution process - Held that:- The amount is due from the Respondent to the Applicant. Respondent is a Company registered under the Companies Act. Therefore, Respondent is a Corporate Debtor within the meaning of sub-section (8) of Section 3 of the Code. The Application filed by the Applicant is complete. Inspite of service of notice, Respondent did not choose to appear before this Authority. No notice of dispute has been given by the Respondent to the Applicant even after receipt of demand notice from the Applicant. Applicant did not name the Interim Insolvency Resolution Professional in the Application. Applicant made a request to refer the matter to the Insolvency Board under Section 16 of the Code. Therefore, there is no need to file the Written Communication of the Interim Resolution Professional. It it is a fit case to initiate insolvency resolution process by admitting the Application under Section 9(5)(1) of the Code. In the case on hand, simultaneous with the admission order, this Adjudicating Authority is not going to appoint Interim Resolution Professional because the Applicant did not propose the name of Interim Resolution Professional. But, this Adjudicating Authority is going to appoint Interim Resolution Professional after the same is recommended by the Insolvency and Bankruptcy Board of India under Section 16(4) of the Code. The Registry is directed to address a letter to the Insolvency and Bankruptcy Board of India, New Delhi to recommend the name of Interim Insolvency Resolution Professional to this Authority, against whom no disciplinary proceedings are pending, within 10 days of receipt of the letter.
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