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TMI Blog2019 (11) TMI 730X X X X Extracts X X X X X X X X Extracts X X X X ..... Insolvency and Bankruptcy Code, 2016, (hereinafter referred to as "the Code"), read with Rule 4, of The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, (hereinafter referred to as "the Rules") seeking reliefs under Section 7(5)(a) and Section 13(l)(a)(b)(c) of the Code. 2. That the applicant/financial creditor Meridian Telesoft Limited, incorporated on 09.10.1992, having its Registered office at 5, Second Floor, Jyoti Plaza, Shyamal Cross Roads, Ahmedabad 380 015, Gujarat State and having identification number U65910GJ1992PLC018401 is in the business of providing business loans. 3. That the respondent M/s. Swayam Metals Limited (formerly known as Somani Trips Ltd.) is a company incorporated under the Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d loan agreement with corporate debtor 75-78 08 Statement of bank accounts where deposits are made or credits received normally by the financial creditor in respect of the debt of the corporate debtor 79-153 09 Promissory note 154-154 10 Proof of despatch of petition to corporate debtor 155-155 11 Power of attorney authorising Mr. Pradip Shah, director of the company to proceed against respondent under Section 7 of IB Code 155-155 Findings 6. Heard both sides at length as also perused the documents annexed with application. 7. On perusal of the record it is found that no dispute has been raised by the respondent regarding the claim made by the financial creditor. 8. On perusal of the record it is found that the unsecured l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional namely Shri Prakash Udhawdas Tekwani, Chartered Accountant. The Adjudicating Authority hereby appoint CA Prakash Udhawdas Tekwani, 387 Karnavati Complex, Opp. Central Bank of India, Revdi Basar Cross Roads, Kalupur, Ahmedabad 380 001, Gujarat State (Email ID [email protected]) having registration No. IBBI/IPA-001/IP-01220/2018-2019/11942 to act as an interim resolution professional. Form-2 of the proposed interim resolution professional has been annexed and placed at page Nos. 7-8 to the application where declaration is made that no disciplinary proceeding is pending against him with the Board or Indian Institute of Insolvency Professionals of ICAI 14. On perusal of record and as also discussed above, it is held that there is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1) shall, however, not apply to such transaction as maybe notified by the Central Government in consultation with any financial sector regulator.
18. The order of moratorium shall have effect from the date of receipt of authenticated copy of this order till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33 as the case maybe.
19. This Petition stands disposed of accordingly with no order as to costs.
20. Communicate a copy of this order to the Applicant, Financial Creditor, Corporate Debtor and to the Interim Insolvency Resolution Professional. X X X X Extracts X X X X X X X X Extracts X X X X
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