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2019 (12) TMI 128

..... porate Debtor counsel has admitted the debt and default, whereby looking at the request of the Corporate Debtor for grant of loan, entries of the payments to the Corporate Debtor made by the Applicant through Bank Account on various dates as reflected in the above said table and the Corporate Debtor failing to repay the same, it can be said that this Applicant has proved existence of debt and default with regard to the loan of ₹ 32,00,000 given by the Applicant. Application admitted - moratorium declared. - IBA NO. 709 OF 2019 - 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. f .....

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..... of this loan amount from the account of the Applicant to the Corporate Debtor from 13.04.2018 to 16.08.2018, which is as follows: Instalment No. Date Amount 1 13/4/2018 ₹ 10,00,000 2 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 28.04.2019 wrote back to the Applicant stating that the Corporate Debtor's financial position having come down, it was not in a position to rep .....

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..... reated 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-section (1) of Section 14 of IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. IV. That the order of moratorium shall have effect from 26 .....

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