TMI Blog2018 (8) TMI 1971X X X X Extracts X X X X X X X X Extracts X X X X ..... nts unequivocally show that the Financial Creditor has granted and disbursed the loan to the Corporate Debtor and at a time of filing of this petition there is default in paying total sum of ₹ 42,40,76,787.43/- inclusive of interest - the Corporate Debtor is unable to pay the dept as above and hence Corporate Insolvency Resolution Process required to be started against them. Application admitted - moratorium declared. - C.P. (IB) No. 338/KB/2018 - - - Dated:- 6-8-2018 - Hon'ble M.B. Gosavi, Member (J) ORDER 1. This petition under Section 7 of Insolvency and Bankruptcy Code, 2016 filed by Bank of India, Kolkata - Financial Creditor against M/S Enfield Apparels Ltd the Corporate Debtor to start Corporate Insolvency ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lish News Paper and also in one Leading Local News Paper. In spite of publication of notice no one peared on behalf of the Corporate Debtor hence hearing of this petition proceeded exe parte against them. 4. I pursed the record of this proceeding. This petition is filed by the Authorized Representative of Bank. It is under Section 7 of the 1B Code hence I have only to verify whether there is debt and its default being committed by the Corporate Debtor. 5. The Financial Creditor produce on record copy of term loan agreement, copy of deed of mortgage of immovable property held by the Promoters of the Corporate Debtor the copy of letter of sanction of cash credit facility to the Corporate Debtor. All these documents unequivocally show th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncluding execution of any judgement, 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 action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); d) The recovery of any property by an owner or lessor where such property is occupied by or in possession of the corporate debtor. iv) The supply of essential goods or services to the Corporat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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