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TMI Blog2020 (3) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... basis of a Board Resolution dated 01.10.2018, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Synergy Fabrics Private Limited ("the Corporate Debtor"). 2. The Corporate Debtor is a private company limited by shares and incorporated on 27.07.2004 under the Companies Act, 1956, with the Registrar of Companies (RoC), Maharashtra, Mumbai. Its CIN is U17110MH2004PTC147712. Its registered office is at 505, Savoy Chambers, Linking Road Extension, Near Juhu Garden, Santa Cruz (W), Mumbai 400 054. Therefore, this Bench has jurisdiction to deal with this petition. 3. The present petition was filed on 24.04.2019 before this Adjudicating Authority claiming the Corporate Debtor failed to make payment of a sum of Rs. 8,87,62 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 9(3)(b) to that effect which is placed on record at pp.21-23 of the petition. 5. The Operational Creditor has not proposed the name of any Interim Resolution Professional (IRP) in the matter. 6. It is seen from the record that the Copy of the Petition was served and delivered on the Corporate Debtor on 08.04.2019. Further, Court Notice dated 29.08.2019 has also been served and delivered on 30.08.2019 to the registered email ID of the Corporate Debtor. However, in spite of this, there was no representation on behalf of the Corporate Debtor. Necessary affidavits of services in this regard have been placed on record. 7. We have heard the submissions of the learned counsel for the Operational Creditor and perused the record. There was no r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... el 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 Operational Assets and Enforcement of Security Interest (Sarfaesi) Act, 2002; (iv) The recovery of any property by an owner or lessor where such property is occupied by or in possession of the Corporate Debtor. (c) Notwithstanding the above, during the period of moratorium,- (i) The supply of essential goods or services to the corporate debtor, if continuing, shal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 Rs. 1,00,000/-(Rupees one lakh only) with the IRP to meet the expenses arising out of issuing public notice and inviting claims. These expenses are subject to approval by the Committee of Creditors (CoC). (i) The Registry is directed to communicate this Order to the Operational Creditor, the Corporate Debtor and the IRP by Speed Post and email immediately, and in any case, not later than two days from the date of this ..... X X X X Extracts X X X X X X X X Extracts X X X X
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