9911796707
TMI Blog2020 (12) TMI 1052X X X X Extracts X X X X X X X X Extracts X X X X ..... principal sum has been stated of Rs. 1,25,000/- (Rupees One lacs Twenty Five Thousand only). 2. The brief facts of the case are as under : 1) The Operational Creditor states that the debt falls due for the consultancy services like GST, Tax, secretarial matters, assisting in statutory Audit and legal consultancy provided to the Corporate Debtor Company for the accounting year 2018-19 against which the Operational Creditor has raised an Invoice bearing No. SNT/19-20/04 dated 04.01.2019. the debt amount is therefore remaining due and payable by the Corporate Debtor. 2) The Operational Creditor sent Demand Notice under Section 8 of the Insolvency & Bankruptcy Code, 2016. The Notice was duly served to the Corporate Debtor. In spite of rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny 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 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 2. The order of moratorium shall have effect from the date of this order till the completion of the Corporate Insolvency Resoluti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of goods/service to the Corporate Debtor Company, it continuing, shall not be terminated or suspended or interrupted during moratorium period. 7. The IRP shall be under duty to protect and preserve the value of the property of the 'Corporate Debtor Company' and manage the operations of the Corporate Debtor Company as a going concern as a part of obligation imposed by Section 20 of the Insolvency & Bankruptcy Code, 2016. The Operational Creditor is directed to pay an advance of Rs. 25,000/- (Rupees Twenty Five Thousand Only) to the IRP within two weeks from the date of receipt of this order for the purpose of smooth conduct of Corporate Insolvency Resolution Process (CIRP) and IRP to file proof of receipt of such amount to this Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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