TMI Blog2019 (9) TMI 1325X X X X Extracts X X X X X X X X Extracts X X X X ..... ication/Petition stands admitted in terms of Section 9(5) of IBC, 2016 and the moratorium shall come into effect as of this date. - IB - 517/ND/2017 - - - Dated:- 25-9-2019 - R. Varadharajan, Judicial Member And Kapal Kumar Vohra, Technical Member Neeraj Kumar Gupta, Adv. for the Petitioner. Prateek, Parashar and Kapil, Adv. for the Respondent. ORDER 1. Ld. Counsels for the Petitioner as well as Respondent are present. The Petitioner an Operational Creditor (OC) has filed this Petition for initiation of Corporate Insolvency and Resolution Process (CIRP) against the Respondent, a Corporate Debtor (CD) for recovery of ₹ 19,45,226/-including interest @18% from the date of default towards supply of printed labels ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the signature of the OC himself and thereafter as an abundant caution, the OC sent fresh notice of demand to the CD on 3.8.2017, which was returned undelivered with remarks Left and therefore the same is deemed to have been served and the CD is deemed to have knowledge of the same. 5. Also, on 10.8.2013, the said notice was sent by e-mail to the official e-mail address of the CD as well as its Directors none of which communications have bounced back. 6. Upon perusal of the ledger account of the CD in the books of account of OC, it can be seen that out of the total debt of ₹ 19,45,226/- the CD has made a payment of ₹ 1,90,000/- by means of NEFT and a balance of ₹ 15,48,206/- is still left to be paid on behalf of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by the CD 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 CD 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. 12. However, during the pendency of the moratorium period in terms of Sections 14(2) and 14(3) as extracted hereunder: (2) The supply of essential goods or services to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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