TMI Blog2018 (11) TMI 1783X X X X Extracts X X X X X X X X Extracts X X X X ..... icant. Respondent is a Company registered under the Companies Act. Therefore, Respondent is a Corporate Debtor within the meaning of sub-section (8) of Section 3 of the Code. The application is complete and deserves to be admitted - petition admitted - moratorium declared. - C.P. (I.B) NO. 222/9/NCLT/AHM/2018 - - - Dated:- 13-11-2018 - Ms. Manorama Kumari, Judicial Member For the Applicant : Mrs. Natasha Shah, Adv. ORDER 1. Mr. Mitesh Milanbhai Solanki, filed this Application with a prayer for initiation of corporate insolvency resolution process against M/s. Kasturi Exim Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016 [hereinafter referred to as the Code ]. 2. That the corporate debtor is a com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no point of time the corporate debtor has raised any grievance or dispute in relation to the quality, condition or quantum of the fees proposed by the applicant. That upon completion of his obligations, the applicant raised invoice towards the services duly rendered and consumed by the corporate debtor. That copy of invoice raised by the applicant along with relevant extract of ledger account maintained by the applicant are annexed to the application and marked as annexure - D. That however the corporate debtor did not make payments towards the services rendered and consumed for the period of April, 2016 to March, 2017. That in view of the aforesaid, the applicant requested the corporate debtor to clear the outstanding invoice. That when th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12% per annum amounting to ₹ 32,449/- from the date of default till 15.04.2018. 6. That this Application has been filed on 10th May, 2018. That this application was listed before this Authority for the first time on 19.06.2018 wherein the applicant filed proof of service of copy of the petition on the respondent. That none remained present on behalf of the respondent. That observing the respondent shall file its objections, if any, within one week by serving an advance copy to the petitioner, with directives to the Registry to issue notice of date of hearing on the respondent, the matter was adjourned to 19.07.2018. That on 19.07.2018 also none remained present on behalf of the respondent. That the track report produced by the app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yment. Therefore, the amount claimed by the Applicant from the Respondent is operational debt within the meaning of Section 5, sub-section (21) of the Code. The operational debt is due to the Applicant. Therefore, Applicant is an Operational Creditor within the meaning of sub-section (5) of Section 20 of the Code. 10. That the amount is due from the Respondent to the Applicant. Respondent is a Company registered under the Companies Act. Therefore, Respondent is a Corporate Debtor within the meaning of sub-section (8) of Section 3 of the Code. 11. That the Application filed by the Applicant is complete. Inspite of service of notice, Respondent did not choose to clear the debt. No notice of dispute has been given by the Respondent to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /- (Rupees three lacs eighty-two thousand four hundred forty-nine only) towards the services by the operational creditor. This Bench admits this petition u/s 9 of the Code declaring moratorium for the purpose referred to in section 14 of the Code with following directions: - (1) That this Bench, subject to provisions of sub-sections (2) and (3) of Section 14 of the Code, hereby prohibits; (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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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