TMI Blog2018 (1) TMI 1365X X X X Extracts X X X X X X X X Extracts X X X X ..... ed within 180 days, reckoning from the day this order is passed. The moratorium is hereby declared which shall have effect from the date of this Order till the completion of Corporate Insolvency Resolution Process, for the purposes referred to in Section 14 of the I&B Code, 2016. - CP/607/(IB)/CB/2017 - - - Dated:- 10-1-2018 - CH MOHD SHARIEF TARIQ, MEMBER (JUDICIAL) For the Petitioner(s): Counsel Mr. S. Satish For the Respondent(s): Sr. Counsel Mr. E. Omprakash for Mr. G. Ashokpathy ORDER Per: CH MOHD SHARIEF TARIQ, MEMBER (J) 1. Under Adjudication is CP/607/(IB)/CB/2017 that has been filed by Mr. V. Manoharan 31 Ors. (hereinafter referred to as the 'Operational Creditors') against the M/s. Associat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refore, the customer has not released any orders after that incident. Further, during the month of November, 2014, the workers went on unauthorised strike which caused a lot of hardships for their customers and they are now refusing their requests for further orders. After enquiry, on 06.10.2016, the Authority Appointed under the Payment of Wages Act, 1936, directed the opposite party i.e. Corporate Debtor to pay an amount of ₹ 23,77,978/- to the Petitioners i.e. the Operational Creditor within 30 days from the date of that direction. 3. Even after the said direction, the Corporate Debtor has not paid the amount of wages due to the Operational Creditors. Thereafter, the Operation Creditors sent the Demand Notice under Rule 5 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . V. Manoharan allegedly claiming to be on behalf of others, does not mention the authority under which he is signing for himself and for other workmen. The Form 3 Demand Notice can be issued only by an Operational Creditor individually and not collectively and hence, the said notice is not tenable and bad in law. Finally, it is stated that the Application filed by the alleged Operational Creditors is not maintainable, without jurisdiction and liable to be dismissed at its inception. In the detailed counter, the Corporate Debtor has reiterated the contentions which have already been raised in the preliminary counter. 6. The plea that the Operational Creditors cannot join together and file an Application under Section 9 of the I B Code, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e with Section 9(3)(c) of the I B Code, 2016. Therefore, the second plea stands rejected and the application is held maintainable. 7. From the documents placed on file and the arguments submitted by the Counsel for the Operational Creditor and Ld. Sr. Counsel for the Corporate Debtor, this Authority is satisfied that the Corporate Debtor defaulted in making payment of the outstanding debt claimed by the Operational Creditors. The Operational Creditors have fulfilled all the requirements of law. Therefore, CP/607/(IB)/CB/2017 is admitted and the commencement of the Corporate Insolvency Resolution Process is ordered, which ordinarily shall get completed within 180 days, reckoning from the day this order is passed. 8. The moratorium is h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of IRPs recommended for appointment as IRPs in the State of Tamilnadu, his E-mail is iiip@gshankar.com, mobile No. 9443049677. The IRP is directed to take charge of the Respondent Corporate Debtor's management immediately. He is also directed to cause public announcement as prescribed under Section 15 of the I B Code, 2016, within three (3) days from the date of copy of this Order is received and call for submission of claim in the manner as prescribed. 11. The IRP shall comply with the provisions of Sections 13(2), 15, 17 18 of the I B code, 2016. The Directors of the Corporate Debtor, its promoters or any person associated with the Management of the Corporate Debtor are/ is directed to extend all assistance and cooperation to ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
