TMI Blog2018 (6) TMI 731X X X X Extracts X X X X X X X X Extracts X X X X ..... al to be appointed as the Interim Resolution Professional. In the instant case the petitioner has filed the written communication Annexure A-3 in Form No. 2 furnished by Mr. Vikas Garg, registered with Insolvency and Bankruptcy Board of India. His registration number is IBBI/IPA002/IP-N00189/2017-18/10506. The Resolution Professional has furnished all the required information giving his consent disclosing that he is not serving as Interim Resolution Professional, Resolution Professional or Liquidator in any case so far. It is also certified that there are no disciplinary proceedings pending against him with the Board or ICSI Insolvency Professional Agency (ICSI IPA). - In view of the above the instant petition deserves to be admitted. - CP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upplying aluminium cable 4 COIR E-Bond 3.20 x 350mm, Argun Welding Set-Modi TIG 300A, Superbond 3.20 x 450M, Castmonel 4.00x300MM, Gas Regulator ACCT.10645100038, Grinding Wheel, Cutting Wheel 5 , Welding holder, Hose Pipe, Grinder 5 BOSH and as per the purchase orders/requests of the corporate debtor, the material was supplied to it. 4. The total amount of the bills for which the supply was made to the respondent-corporate debtor is ₹ 6,71,816.93 (Rupees six lac seventy one thousand eight hundred sixteen and ninety three paisa only). According to the petitioner, the respondent-corporate debtor has not paid the amount in respect of any of the bills/invoices. 5. Before filing this petition the respondent-corporate debtor was sen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spondent on 21.03.2015. This application has been filed with the plea that the outstanding amount in default is ₹ 6,71,816.93 though the further interest @18% per annum was also claimed. The contents of the application are supported by the affidavit of the proprietor of the petitioner-company. 7. The petitioner has also filed the affidavit at pages 13/14 of the Paper Book stating that the respondent has not given any notice of the dispute in respect of this debt nor even paid the amount despite issuance of the notice, in order to comply with the requirements of Section 9(3)(b) of the Code. The petitioner also filed copy of the Bank Statement maintained with Kotak Mahindra Bank as at Annexure A-5 (colly). 8. Earlier the petitione ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... within seven days. 11. When the matter was listed on 09.04.2018 learned counsel for the petitioner submitted that the banks are not issuing the requisite certificate as required by Section 9(3)(c) of the Code. However, learned counsel sought adjournment for making necessary compliances. Vide diary No. 1012 dated 03.04.2018 complete copy of the statements of Bank accounts of the operational creditor maintained with Kotak Mahindra Bank since the period 01.06.2012 and with ICICI Bank since 19.08.2011 are at Annexures-A and B, respectively with this additional affidavit. 12. During course of arguments learned counsel for the petitioner handed over affidavit dated 15.04.2018 of the sole proprietor of the petitioner with the copies of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reditor or there is no record of dispute in the information utility; and (e) there is no disciplinary proceeding pending against any resolution professional proposed under sub-section (4), if any. (ii) reject the application and communicate such decision to the operational creditor and the corporate debtor, if- (a) the application made under sub-section (2) is incomplete; (b) there has been repayment of the unpaid operational debt; (c) the creditor has not delivered the invoice or notice for payment to the corporate debtor; (d) notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility; or (e) any disciplinary proceeding is pending against any proposed reso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ICSI Insolvency Professional Agency (ICSI IPA). 17. In view of the above the instant petition deserves to be admitted. 18. The petition is, therefore, admitted and the moratorium is declared for prohibiting all of the following in terms of sub-section (1) of Section 14 of the Code:- (a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) any action to foreclose, recover or enforce any security interest c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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