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2018 (12) TMI 1671

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..... in payment of the amount claimed in the petition be admitted. Copy of the resolution has been placed on record. In view of the categorical admission of the Corporate Debtor expressing its inability to liquidate the amount claimed, the prayer of the Operational merits consideration and is hereby being admitted - the petition is Admitted. - (IB)-846(ND)/2018 - - - Dated:- 11-12-2018 - SMT. INA MALHOTRA, MEMBER (J) AND SMT. DEEPA KRISHAN, MEMBER (T) For The Petitioner : Ms. Prachi Johri, Advocate For The Corporate Debtor : Mr Sumranjot Singh ORDER Per : Smt. Ina Malhotra, Member (J) The present petition has been filed by the Operational C .....

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..... liquidate the same. This is corroborated by the Minutes of Meeting of the Board of Directors convened on 6th November, 2018, wherein it was resolved that the default in payment of the amount claimed in the petition be admitted. Copy of the resolution has been placed on record. 5. In view of the categorical admission of the Corporate Debtor expressing its inability to liquidate the amount claimed, the prayer of the Operational merits consideration and is hereby being admitted. Accordingly, the petition is Admitted. A moratorium in terms of Section 14 of Code comes into effect forthwith, staying: (a) the institution of suits or continuation of pending suits or proceedings against the corporate de .....

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..... 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. 6. The Operational Creditor has not named any Interim Resolution Professional in the petition. Therefore, this Bench appoints Mr. Akash Shingar, Registration No. IBBI/IPA-001/IP-P00137/2017-18/10279, E-mail Id. [email protected], Mob. No. 09868145676, as the Interim Resolution Professional from the panel of Insolvency Professional approved by the IBBI. The IRP so appointed shall take statutory steps in accordance with the Code more specifically in terms of Sections 15, 17, 18, 20 and 21, and file his interim report from time to time. .....

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