TMI Blog2019 (12) TMI 1437X X X X Extracts X X X X X X X X Extracts X X X X ..... e CIRP of the Respondent. Accordingly, this petition is admitted. Petition admitted - moratorium declared. - No. (IB) 1755 (ND) of 2019 - - - Dated:- 9-12-2019 - Justice Rajesh Dayal Khare, Judicial Member And Ms. Sumita Purkayastha, Technical Member For the Petitioner : Shashwat Parihar and Shashwat Anand, Advs. ORDER MS. SUMITA PURKAYASTHA, TECHNICAL MEMBER. 1. The present petition has been filed invoking the provision of section 9 of the Insolvency Bankruptcy Code, 2016. 2. The operational Creditor was appointed for the post of Sales Head by the company of Corporate Debtor on 5-9-2017 as per the offer letter issued by the Corporate Debtor dated 23-8-2017. The Operational creditor continued to hold the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... perational Debtor sent the mail to the Corporate Debtor. 6. On 6-10-2018 at 3:26 P.M., the Operational Creditor received a mail from the Director of the Company of Corporate Debtor with allegations that Operational Creditor is not coming to office and is absconding from the office. The Operational Creditor clarified the same vide e-mail dated 8-10-2018. As per the averment in the Application, the Operational Creditor kept on requesting the Corporate Debtor to release his salary through his WhatsApp account and on offices WhatsApp group but of no avail. 7. The Corporate Debtor asked the Operational Creditor to handover all the belongings of the Corporate Debtor to the Office of Corporate Debtor. The Operational Creditor handed over the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cess of the Corporate Debtor. 12. As per the averments of the Petitioner, the Corporate Debtors did not make the payment against the default amount. None appeared on behalf of the Corporate Debtor to oppose the prayer made by the petitioner, hence they were proceeded ex parte. The present petition being filed in July, 2019 is within the limitation, being within three years from the date of the cause of action. Considering the circumstances this Tribunal is inclined to admit this petition and initiate CIRP of the Respondent. Accordingly, this petition is admitted. A moratorium in terms of section 14 of the Insolvency Bankruptcy Code, 2016 shall come into effect forthwith staying:- (a) the institution of suits or continuation of pend ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be. 13. The Operational Creditor has not proposed the name of any IRP. Accordingly, we appoint Mr. Tiruvidaimarudur Rajagopalan Ramamurthy, an Insolvency Professional, registration No. IBBI/IPA-002/IP-N00193/2017-18/10559 e-mail trramamurthy@hotmail.com duly empanelled with the IBBI as the IRP. He is directed to take such steps as are mandated under the Code, more specifically under sections 15, 17, 18, 20 and 21 and shall file his report before the Adjudicating Authority. 14. The Operational Creditor is directed to deposit a sum of ₹ 2 lakhs to meet the immediate expenses of IRP. The same shall be fully accountable b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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