TMI Blog2020 (4) TMI 508X X X X Extracts X X X X X X X X Extracts X X X X ..... - 13-1-2020 - Harihar Prakash Chaturvedi, Judicial Member And Prasanta Kumar Mohanty, Technical Member Mandeep Singh and Rituraj Meena for the Petitioner. ORDER Prasanta Kumar Mohanty, 1. The present petition has been preferred by the Operational Creditor, TCI Express Limited under section 9 of the Insolvency and Bankruptcy Code, 2016 (herein after referred to as a Code ) seeking for initiation of Corporate Insolvency Resolution Process ( CIRP in Short) in respect of the Corporate Debtor Company namely, Sonali Energees Private Limited. 2. The Petitioner/Operational Creditor is a registered company under the provisions of Companies Act, 1956, with a Company Identification Number (CIN) -L62200TG2008PLC061781. The registered office of the Petitioner is situated at Flat No. 306 307, 31, 3rd 201-203, 3rd Floor, Ashoka Bhoopal Chambers, S.P. Road, Secunderabad, Telangana-500 003. The present Petition is filed through Shri Rituraj M. Meena. 3. The Respondent/Corporate Debtor, namely Sonali Energees Private Limited was incorporated on 26-3-2009 with CIN: U40100GJ2009PTC056444. The authorised capital of the company is ₹ 10,00,00,000/-and the paid-up cap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1240052640 09-4-2018 10-5-2018 30400.00 TOTAL Rs. 536104.00 6. It is submitted that the Form 3 demand notice was issued by the operational creditor on 12-4-2018 which was duly served to registered office of the Corporate Debtor. It is submitted that the respondent Corporate Debtor has chosen not to give any reply/response to the said demand notice. 7. Thereafter the operational creditor has approached this Tribunal by filing captioned section 9 applications. 8. It is submitted that on 17-9-2018, this Tribunal was pleased to issue notice to the respondent Corporate Debtor and directed the respondent to file its reply. 9. It is submitted that as the corporate debtor did not appear before the Adjudicating Authority, Operational Creditor/Petitioner was directed to serve the notice through paper publication. Accordingly, the Applicant has published the notice in the newspaper and thereafter filed affidavit in this regard before the Adjudicating Authority. 10. It is submitted that the respondent Corporate Debtor had chosen not to appear be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2018, 20-12-2018, 12-2-2019, 1-4-2019, 11-6-2019, 06-8-2018 3-9-2019. Arguments of the counsels of the Operational Creditor were heard. On 12-9-2019 written submission was submitted. 17. The matter was finally heard on 3-9-2019. During the arguments, the Learned Counsel for the Operational Creditor submitted that the Petition may be admitted and an Interim Resolution Professional appointed in accordance with the provisions of the Section 16 of the Insolvency and Bankruptcy Code, 2016. Further, it is submitted that the Corporate Insolvency Resolution Process be initiated as per Section 9 of the Insolvency and Bankruptcy Code, 2016 and the moratorium period may also be declared. 18. Further, the Operational Creditor has not suggested any name of an Interim Resolution Professional ( IRP for short). If, this LB. Petition is admitted, an IRP needs to be appointed. 19. It is observed that - 19.1 The Application has been filed on 20-7-2018 for operational debt dueand defaulted of ₹ 5,36,104/- (Rupees Five Lakhs Thirty Six Thousand One Hundred Four Only) as per the respective Invoices enclosed. 19.2 Date of invoice is 9-5-2017, 23-10-2017, 06-7-2017, 6-7-2017, 18-9- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion of the corporate debtor. II. The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated or suspended or interrupted during the moratorium period. III. The provisions of sub-section (1) shall not apply to (a) such transactions as may be notified by the Central Government in consultation with any financial sector regulator. IV. The order of moratorium shall have effect from the date of this order till the completion of the Corporate Insolvency Resolution Process. 22. The Petitioner/Operational Creditor has not suggested the name of any Interim Resolution Professional in the present Petition. Though it is not mandatory on the part of the Applicant to propose an Interim Resolution Professional when the application is filed under section 9 of the IBC, 2016, but in that case, the Adjudicating Authority shall appoint an Insolvency Professional from the panel prepared by the IBBI and meant for this Bench on admission of the application. But if it is observed that when an Operational Creditor does not suggest the name of any Interim Resolution Professional and the Interim Resolution Professional is appointed by the Adjudica ..... X X X X Extracts X X X X X X X X Extracts X X X X
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