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TMI Blog2020 (6) TMI 523X X X X Extracts X X X X X X X X Extracts X X X X ..... itiating Corporate Insolvency Resolution Process (CIRP) claiming a default of Rs. 1,40,33,29,995.29/- (Rupees One Hundred and Forty Crore Thirty Three Lakh Twenty Nine Thousand Nine Hundred and Ninety Five only) 2. This application is filed by Mr. Vaibhav Shetty, being duly authorised vide Board Resolution dated 27.04.2018. Copy of the Board Resolution is annexed to the Application. 3. The Applicant is an asset reconstruction company and assignee of the UCO Bank (The Original Lender). The Corporate Debtor defaulted in repayment of loans availed from UCO Bank. The Assignee has taken legal action under the SARFAESI Act, 2002 and filed an Original Application before the Ld. Debt Recovery Tribunal, Jabalpur. Copy of the Assignment deed dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the said order and the date of default is 22.10.2016 which is well within limitation. 7. We have heard the parties and perused the records. 8. On perusal of the records, it is observed that the Application is filed on the basis of Order dated 22.10.2016 passed by the Ld. DRT, Jabalpur in O.A No. 225/2013. It is pertinent to mention that the order passed is a final order and the same concludes that the Corporate Debtor is liable to pay a sum of Rs. 85,94,62,955/- (Rupees Eighty Five Crore Ninety Four Lakh Sixty Two Thousand Nine Hundred and Fifty Five Only) together with interest pendente lite and future interest at 12% per annum from the date of filing the OA. i.e 30.09.2013 till its realisation. The said order is passed after considering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sset Reconstruction Company Limited, Financial Creditor or Applicant, against Raipur Treasure Island Private Limited, Corporate Debtor for initiating corporate insolvency resolution process is admitted. We further declare moratorium u/s 14 of I&B Code with consequential directions as mentioned below: I. That this Bench as a result of this 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 beneficial interest therein; (c) any act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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