TMI Blog2020 (4) TMI 676X X X X Extracts X X X X X X X X Extracts X X X X ..... d by Courier Service. None was present on behalf of the Corporate Debtor hence they were proceeded ex-parte vide order dated 02-09-2019. Considering the circumstances, the prayer of the Operational Creditor merits consideration. Petition admitted - moratorium declared. - (IB)-1753 (ND) 2019 - - - Dated:- 16-10-2019 - Rajesh Dayal Khare, Judicial Member And Smt. Sumita Purkayastha, Technical Member Angad Mehta for the Petitioner. ORDER Rajesh Dayal Khare, The present petition has been filed invoking the provision of Section 9 of the Insolvency Bankruptcy Code, 2016. 2. The petitioner/Operational Creditor has been dealing with the respondent/Corporate Debtor for logistics services wherein the Corporate Debtor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Interest @ 12% for every 7 days due to the delay in payment 3,93,240.6/- Total 6,39,817.3/- 5. The Operational Creditor issued the demand notice dated 18-04-2019 as required under section 8 of the Code was issued, demanding a total sum of ₹ 6,39,817.3/- which was duly served on 22-04-2019. 6. In view of the Corporate Debtor's failure to reduce or liquidate its liability, the present petition has been filed in the required format praying for initiation of the Corporate Insolvency Resolution Process of the Corporate Debtor. Affidavit in compliance under section 9(3)(b) and 9(3)(c) of Code are on record to corroborate his case. 7. The Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tral Government in consultation with any financial sector regulator. (4) The order of moratorium shall have effect from the date of such order till the completion of the corporate insolvency resolution process: Provided that where at any time during the corporate insolvency resolution process period, if the Adjudicating Authority approves the resolution plan under sub-section (1) of section 31 or passes an order for liquidation of corporate debtor under section 33, the moratorium shall cease to have effect from the dale of such approval or liquidation order, as the case may be. 8. The Operational Creditor has not proposed the name of any IRP. Accordingly, we appoint Mr. Vishnu Dutt, an Insolvency Professional, registration no. I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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