TMI Blog2020 (3) TMI 707X X X X Extracts X X X X X X X X Extracts X X X X ..... liable for interest @ 18% per annum. In compliance of section 9(3)(b) of the code, an affidavit seen produced by way of supplementary affidavit and also produced copy of statement of Bank account in compliance of section 9(3)(c) of the Code. The copy of statement of Bank account, is marked as Annexure - P11. It proves that unpaid amount has not been paid as demanded by the Operational Creditor. This Application is fit for admission and accordingly is admitted - Application is admitted and moratorium is declared. - CP (IB) NO. 703/KB/2019 - - - Dated:- 18-12-2019 - Jinan K.R., Judicial Member And Harish Chander Suri, Technical Member Ms. Urmila Chakraborty, Sunil Singhania and Kalpana Singhania, Advs. for the Appellant. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onored on presentation. The Corporate Debtor has duly received the goods sold and delivered by the Operational Creditor and has also received the invoices raised by the Operational Creditor without any demur/objection and/or protest. Despite repeated demands, the Corporate Debtor failed in paying the amount outstanding due to the Operational Creditor. Therefore, the Operational Creditor issued a demand notice under section 8(1) of the Code demanding the outstanding amount of ₹ 7,00,355/- (Rupees Seven Lakh three hundred fifty five only) along with interest at agreed rate of 18% per annum. The demand notice was issued on 26-11-2018. The notice was delivered to the Corporate Debtor by way of E-mail on 17-12-2018. Despite receipt of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r and notice seen delivered to the said mail id. The Corporate Debtor has not chosen to come forward and defend the case. No reply to the demand notice also seen send by the corporate debtor. The goods as per the invoices seen delivered on the Corporate Debtor. The Corporate Debtor has not raised any dispute so far and not turned up for defending this case. 4. The Operational Creditor has succeeded in proving default in payment of the operational debt found due to the Operational Creditor. The Operational Creditor also proposed the name of an Insolvency resolution Professional, Mr. Balaknath Bhattacharyya. To prove that no disciplinary enquiry proceeding is pending against the proposed Insolvency Resolution Professional produced Form-2 w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bits the following:- (a) 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; (b) Transferring, encumbering, alienating 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 (54 of 2002); (d) The recovery of any property by an owner or lessor where su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ors and shall identify the prospective Resolution Applicant within 105 days from the insolvency commencement date and follow Regulation 40A strictly. (x) The Operational Creditor is directed to deposit ₹ 2,00,000/- (Rupees Two Lacs Only) in the ESCROW Account in SBI to be operated through the Registrar, NCLT, Kolkata Bench, for the purpose of meeting the preliminary expenses for initiating the CIR Process by the IRP within one week of the date of this order. (xi) Registry is hereby directed under section 7(4) of the I B Code, 2016 to communicate the order to the Financial Creditor, the Corporate Debtor and to the IRP by Speed Post as well as through E-mail. (xii) List the matter on 23-1-2020 for filing of the progress report. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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