TMI Blog2018 (10) TMI 980X X X X Extracts X X X X X X X X Extracts X X X X ..... UMAR DURAISAMY, MEMBER (T) For The Petitioner : Shavez Mukri, Adv. and Shilpa Upadhyay, Adv. ORDER Ravikumar Duraisamy, Member (Technical) It's a Company Petition filed under Section 9 of the Insolvency Bankruptcy Code, 2016 ( IBC ) read with Regulation 7(2)(b)(i)-(iii) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016 ( CIRP Regulation ), by an Operational Creditor, namely, Reliance Communications and Infrastructure Limited (hereinafter referred as 'the Creditor') against a Corporate Debtor, namely, TVC Skyshop Limited (hereinafter referred as 'the Debtor'), on the ground that the Creditor has obtained a decree against the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osit, will entitle to Debtor to withdraw the sum; (f) directions passed only for disposal of the Company Petition No. 910/2005, keeping open the contentions and merits of claims or obligations of the parties under the agreement. 3. Thereafter, the Creditor filed a Summary Suit before the Hon'ble Bombay High Court under Order 37 Rule 2 of the Code of Civil Procedure, being Summary Suit No. 1989 of 2006, praying for (a) a decree for ₹ 25,83,078.35 with further interest @30% p.a. from the date of suit and (b) costs. Despite due service of summons in September 2006, the Debtor did not file an application for leave to defend. Further there was no representative of the Debtor appeared on the date specified in the summons. On 7.11.200 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Division Bench of the High Court vide order dated 16.4.2008, inter alia, stating, The question of going into the infirmity or legality or illegality pertaining to the rate of interest or to what extent the amount has already been paid by the appellant would have arisen in case there was any material placed by the appellant in that regard before the learned Single Judge after obtaining necessary leave to defend the suit in accordance with the law. The appellate Court's going into the documentary evidence, if such evidence have been found on record before the trial Court and that too without following the procedure prescribed under Order 41 Rule 27 of the Code of Civil Procedure, does not arise at all. In any case, the appellan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or personally on 24.01.2018. Despite this the Debtor has not entered appearance before this Bench, 9. This Petition clearly reveals that there is a debt as defined in Section 3(11) of IBC read with Regulation 7 of CIRP Regulation, also there is default in this case within the meaning of Section 3(12) of IBC and the corporate debtor having named the Interim Resolution Professional with his consent, there being no disciplinary proceedings against the IRP, this Bench hereby admits this petition filed under Section 9 of IBC, declaring moratorium with consequential directions as mentioned below: (a) That this Bench hereby prohibits the institution of suits or continuation of pending suits or proceedings against the corporate debtor includ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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