TMI Blog2020 (2) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... orders initiation of CIRP against the Corporate Debtor. Petition admitted - moratorium declared. - CP (IB) NO. 1972/MB/C-IV-2019 - - - Dated:- 3-12-2019 - Rajasekhar V.K., Judicial Member And Ravikumar Duraisamy, Technical Member Ms. Poonam Teddu for the Applicant. ORDER Rajasekhar V.K., This is a Company Petition filed under section 9 of the Insolvency Bankruptcy Code, 2016 (IBC) by The Shop ( the Operational Creditor ), a registered partnership firm represented by its Partner, Mr Dharamsi Nanji Patel, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Carbontree Industries Private Limited ( the Corporate Debtor ). 2. The Corporate Debtor is a private company limited by shares and i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 of the Petition); (c) The Operational Creditor raised the following invoices on the Corporate Debtor: (1) Invoice dated 03.05.2016 for ₹ 39,936/- [invoice at p.157, delivery challan at p.158]; (2) Invoice dated 07.06.2016 for ₹ 22,500/- [invoice at p.159, delivery challan at p.160]; (3) Invoice dated 14.06.2016 for ₹ 64,795/- [invoice at p.161, delivery challan at p.162]; (4) Invoice dated 17.06.2016 for ₹ 4,860/- [invoice at p.163, delivery challan at p.164]; (5) Invoice dated 28.07.2016 for ₹ 3,74,470/- [invoice at pp.165-166, delivery challan at p.167]; (6) Invoice dated 18.08.2016 for ₹ 4,56,973/- [invoice at p.168, delivery challan at p.169]; (7) Invoice dated 19.08.2016 f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 39; at pp.201-205. 8. The Corporate Debtor has remained unrepresented throughout the proceedings. It has also not submitted any reply in the matter. 9. We have heard the arguments of the Learned Counsel for the Operational Creditor and perused the records. 10. The Corporate Debtor has not replied to the Demand Notice. It has also not taken steps either to represent itself in the matter before this Adjudicating Authority or file a reply. It is observed from the documents placed on record that the Operational Creditor supplied of goods vide the eight invoices mentioned in para 4(c) supra is not in question. The delivery challans annexed along with each invoice attest to delivery of the goods to, and its receipt by, the Corporate Debt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall be a moratorium under section 14 of the IBC, in regard to the following: (i) The institution of suits or continuation of pending suits or proceedings against the Corporate Debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (ii) Transferring, encumbering, alienating or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; (iii) 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 (Sarfaesi) Act, 2002; (iv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ptcy Board of India (IBBI). The IRP shall carry out her functions as contemplated by sections 15, 17, 18, 19, 20 and 21 of the IBC. (g) During the CIRP Period, the management of the Corporate Debtor shall vest in the IRP or, as the case may be, the RP in terms of section 17 of the IBC. The officers and managers of the Corporate Debtor shall provide all documents in their possession and furnish every information in their knowledge to the IRP within a period of one week from the date of receipt of this Order, in default of which coercive steps will follow. (h) The Operational Creditor shall deposit a sum of ₹ 1,00,000/-(Rupees one lakh only) with the IRP to meet the expenses arising out of issuing public notice and inviting claims ..... X X X X Extracts X X X X X X X X Extracts X X X X
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