9911796707
TMI Blog2020 (4) TMI 676X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 has been placing orders for pickup and shipping upon the Operational Creditor on a regular basi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal Creditor on the Corporate Debtor. However, the Corporate Debtor has made the payment in full of only 1 invoice (Adjusted via COD amount), partial payment made for the 2 invoices and 4 invoices are not paid and are outstanding. As only one of the invoices were satisfied, the Operational Creditor sent several email reminders to the Corporate Debtor for the outstanding amount. 4. The Operational ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y served 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. Accordingly, this petition is admitted. A moratorium in terms of Section 14 of the Insolvency & Bankruptcy Code, 2016 shall come into effect forthwith staying:- ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (2) The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated or suspended or interrupted during moratorium period. (3) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. (4) The order of moratorium shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndated under the Code, more specifically under Sections 15, 17, 18, 20 and 21 and shall file his report before the Adjudicating Authority. 9. The Operational Creditor is directed to deposit a sum of Rs. 2 lakhs to meet the immediate expenses of IRP. The same shall be fully accountable by the IRP and shall be reimbursed by the CoC, to the Operational Creditor to be recovered as CIR costs. 10. Cop ..... X X X X Extracts X X X X X X X X Extracts X X X X
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