2019 (12) TMI 128

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..... 8377; 32,00,000 given by the Applicant. Application admitted - moratorium declared. - IBA NO. 709 OF 2019 - - - Dated:- 30-8-2019 - B.S.V. Prakash Kumar, Judicial Member And S. Vijayaraghavan, Technical Member Pawan Jhabakh, Adv., Chandra Prakash Surana, Adv. and Ashwin Raman, Adv. for the Applicant. Ramaswamy Mayyappan, Adv. for the Respondent. ORDER B.S.V. Prakash Kumar, It is an Insolvency Bankruptcy Application (IBA) filed u/s 7 of the Insolvency Bankruptcy Code, 2016 ( the Code ) by the Applicant/Financial Creditor for initiation of Corporate Insolvency Resolution Process ( CIRP ) against the Corporate Debtor, based on the default committed by the Corporate Debtor in repaying .....

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..... 5/5/2018 ₹ 5,00,000 3 9/5/2018 ₹ 5,00,000 4 21/5/2018 ₹ 5,00,000 5 24/5/2018 ₹ 5,00,000 6 16/8/2018 ₹ 2,00,000 4. Thereafter, when repayment has not come to the Applicant from the Corporate Debtor, as per the letter dated 01.04.2018, this Applicant issued demand notices to the Corporate Debtor on 10.01.2019. 02.02.2019, 12.04.2019 and 28.04.2019. To which, the Corporate Debtor on 28.04 .....

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..... nating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest 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 Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. II. That Supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. III. That the provisions of sub-sec .....

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