TMI Blog2021 (4) TMI 300X X X X Extracts X X X X X X X X Extracts X X X X ..... m declared. - CP (lB) No. 52/CTB/2020 - - - Dated:- 31-3-2021 - Ms. Sucharitha R. Member (J) and Shri Satya Ranjan Prasad Member (T) For Petitioner (s) : CS Debadatta Mohaptra For Respondent (s) : None ORDER Petitioner is represented by Ld. CS Shri Debadatta Mohapatra. Ld. Counsel Mr. Ambika Prasad Mohanty is present for the respondent. This application is filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 for initiation of Corporate Insolvency Resolution Process against the respondent herein. The Registered Office of the respondent is situated at H. No. 40/804/1, 1 st Floor, Behind Lal Ganga Shopping Mall, Near Modern X - Ray, G.E. Road, Raipur, Chhattisgarh - 492 001. Hence, this Adjudicating Auth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h the application from Page No. 78 to 82 as Annexure - 8 . 5. The learned Counsel for the respondent submits that the petitioner and respondent had a long-standing business relationship. The respondent paid various Bills to of the applicant. The applicant at the earlier point of time have given more credit period for settlement of the amount. The counter has been filed by the respondent. The respondent denies and opposes that there is no interest due and payable by the respondent to the applicant. However, outstanding operational debt of ₹ 15,77,852/-(Rs. Fifteen Lakh Seventy-Seven Thousand Eight Hundred and Fifty-Two) only is due and payable to the applicant herein. The respondent further states that the amount of liability is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... application filed by the Operational Creditor under Section 8 and 9 of the Insolvency Bankruptcy Code, 2016 is hereby ADMITTED for initiating the Corporate Insolvency Resolution Process against M/s. Raipur Polymers Pvt. Ltd. Moratorium Order is passed for a public announcement as stated in Section 13 of the Insolvency Bankruptcy Code, 2016. (ii) The moratorium is declared for the purposes referred to in Section 14 of the Insolvency Bankruptcy Code, 2016. The IRP shall cause a public announcement of the initiation of Corporate Insolvency Resolution Process and call for the submission of claims under Section 15. The public announcement referred to in clause (b) of sub-Section (1) of Insolvency Bankruptcy Code, 2016 shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s period, if the Adjudicating Authority approves the Resolution Plan under sub-Section (1) of Section 31 or passes an Order for liquidation of Corporate Debtor under Section 33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be. (viii) Necessary public announcement as per Section 15 of the Insolvency Bankruptcy Code, 2016 may be made by the Resolution Professional upon receipt of the copy of this Order. (ix) Mr. Saradindu Jena residence of O.U. No. - 510, 5th Floor, Esplanade One, 721, Rasulgarh, Bhubaneswar - 751 010, Odisha, having Registration No.: IBBI/IPA-002/IP-N00520/2017-2018/11622 and E-mail Id.: ip.jena2017@gmail.com is appointed as Interim Resolution Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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