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2019 (11) TMI 446

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..... default, therefore, we hereby admit this company application looking at the consent given by Mr. P. Sriram with a direction to the Operational Creditor to pay remuneration to the IRP and his expenses until the constitution of CoC . Application admitted - moratorium declared. - IBA/838/2019 - - - Dated:- 30-8-2019 - MR B.S.V. PRAKASH KUMAR, MEMBER (JUDICIAL) For The .....

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..... 15.04.2018 for an amount of ₹ 1,70,000, thereafter, this Operational Creditor demanded the Corporate Debtor to pay its claim by sending e-mails on 20.10.2018 and 10.12.2018. To which, the Corporate Debtor has sent reply on 02.05.2018 stating that it would pay the invoice amount due to the Operational Creditor but thereafter, no payment having come from the Corporate Debtor, the Operational C .....

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..... efore says that though the Corporate Debtor acknowledged the debt, since the Corporate Debtor is not in a position to pay the same, the Operational Creditor has sought for admission of this Company Petition. 5. Looking at the facts aforementioned, this Bench is of the view that the Operational Creditor has proved existence of debt and default, therefore, we hereby admit this company .....

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..... therein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( SARFAESI Act ); (d) The recovery of any property by an owner or lessor where such property is .....

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..... (V) That the public announcement of the Corporate Insolvency Resolution Process shall be made immediately as specified under Section 13 of the Code. (VI) That this Bench hereby appoints Mr. P. Sriram as Interim Resolution Professional ( Reg. No. IBBI/IPA-002/IP-N00292/2017-2018/10895 ), 10/17 Anadm Colony, South Canal Bank Road, Mandaveli, Chennai-600 028, E-mail: sriampcs@gm .....

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