9911796707
TMI Blog2018 (9) TMI 480X X X X Extracts X X X X X X X X Extracts X X X X ..... ss (CIRP) of M/s. Sungil India Private Limited (for brevity 'Corporate Debtor'). 2. The applicant is a company incorporated under the provisions of Companies Act, 1956 with CIN No. U74900KA2012PTC066652, having registered office at #633F/555, Koundinya, 6th Main 1st Cross, Thayappa Garden, Bannerghatta Road, Bilekahalli, Bengaluru-560076. The Applicant has authorized Mr. Anirudh Muralidhar, Area Manager for Delhi-NCR Region via Board Resolution 09.12.2017, to file this applicant on behalf of the Applicant. 3. The Application is involved in the business of importing and stockists of plastic mould steel, cold work tool steel, hot work tool steel, aluminium, Beryllium Copper, Special forging and special steel. 4. The Corporate Debtor is the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clear the outstanding amount, however, Corporate Debtor neglected and failed to pay the unpaid debt of the Applicant. Since no payment was forthcoming hence a notice under Section 8 of the Insolvency and Bankruptcy Code was issued on 04.01.2018 to the Corporate Debtor. 9. The Applicant sent the Demand Notice (Form 3) along with Form 4 on 04.01.2018 to all official email ids of the Corporate Debtor viz. sungilindia@gmail. com, sungilceo23@gmail. com, purchase@sungilindia. com as well as on [email protected] on 13.02.2018 which were received as per the claim of the Applicant. 10. Despite the demand notice sent u/s. 8 of the Code, the Corporate Debtor has failed to pay the amount demanded nor has replied to the demand notice raising ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction of this Tribunal. 16. In the circumstances mentioned above Corporate Debtor despite repeated service has not appeared before this Tribunal and existence of a default of debt due to the Applicant is established. The Tribunal is of the considered view that this application requires to be admitted and that CIRP process is required to be initiated against the Corporate Debtor. 17. The Applicant has not proposed the name of any IRP and requested the Tribunal to appoint any IRP, hence Mr. Rajesh Parikh, having mail id.- [email protected] is duly registered with Insolvency and Bankruptcy Board of India and having registration No. IBBI/IPA-001/IP- P00272/2017-18/10516, is be and hereby appointed as an Interim Resolution Professional. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor regulator." The duration of the period of moratorium shall be as provided in Section 14(4) of IBC, 2016 and for ready reference reproduced as follows: - "(4) The order of moratorium shall have effect from the date of such order till the completion of the corporate insolvency resolution process: Provided that where at any time during the corporate insolvency resolution process period, if the Adjudicating Authority approves the resolution plan under sub-section (1) of section 31 or passes an order for liquidation of corporate debtor under section 33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be." 19. Based on the above terms, the Application stands admitted in ter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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