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TMI Blog2018 (8) TMI 1871X X X X Extracts X X X X X X X X Extracts X X X X ..... nding dues. 2. As per averments, the petitioner claiming to be an Operational Creditor had supplied various goods on credit to the Corporate debtor and raised 44 invoices between January 2014 and March 2014. The total liability under the invoices was at Rs. 66,10,786/- which was to be paid within the stipulated credit period of 60 days. In acknowledgment of the outstanding liability and in a bid to liquidate the same, the Corporate Debtor issued 51 Cheques payable between April 2014 and June 2014. It is the grievance of the Operational Creditor that the aforesaid cheques upon presentation returned dishonoured. Despite repeated demands, the Corporate Debtor has failed to take any steps to pay the same, constraining the Operational Creditor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 66, 10,786/-under the 51 dishonoured cheques. 6. The submissions made by the Corporate Debtor in respect of limitation do not merit any consideration as various amounts have been paid to reduce the liability in the court at Gurgaon. Payments have been made on adhoc basis and not invoice wise. Payments have also been made during the period of Limitation thereby extending the same from time to time. As noted above, the last payment made in acknowledgment of the existing debt was on 18.03.2016, therefore the aforesaid amount is legally recoverable. In the absence of any real dispute, the prayer of the operational Creditor has to be admitted. Accordingly, the petition is Admitted. A moratorium in terms of Section 14 of Code comes into effect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. " 7. Ld. Counsel for the Operational Creditor has proposed the name of Mr. Arun Jain, Registration No. IBB1/1PA-001/1P-P00590/2017-18/11029, email: [email protected]. His consent and certificate of eligibility have also been filed. Accordingly, he is being confirmed by this Bench as the IRP in this case. The IRP is directed to take all such steps as are required under the statute, more specifically in terms of Sections 15,17,18,20 and 21 of the Code. 8. The IRP is directed to file his report within the statutory period. 9. Copy of the order be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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