TMI Blog2021 (11) TMI 757X X X X Extracts X X X X X X X X Extracts X X X X ..... debt. The Copy of the financial statement furnished by the financial institutions is also filed. Hence, this Application is found to be complete. The petition is admitted - moratorium declared. - CP (IB) No. 24/9/AMR/2020 - - - Dated:- 27-10-2021 - Telaprolu Rajani, J. (Member (J)) For the Appellant : V. Apparao, Advocate ORDER Telaprolu Rajani, J. (Member (J)) 1. M/s. Shika Enterprises, (hereinafter referred to as the Operational Creditor) has filed the present petition against M/s. CEASAN GLASS PRIVATE LIMITED (hereinafter referred to as Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor had defaulted in making payment of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w that the Corporate Debtor is indebted to several vendors and financial institutions and that the Corporate Debtor is not in a position to pay his debt. Non-issuance of reply to the Demand Notice of the Operational Creditor dated 09.12.2019 amounts to admitting the debt by the Corporate Debtor and no dispute was raised by the Corporate Debtor. Having no other alternative, the Operational Creditor approached this Tribunal by way of this petition. 5. The Counsel submits that the Ministry of Corporate Affairs, GOI website shows that the Corporate Debtor failed to file balance sheet and other financial statements upto 31.03.2016 (a copy is also enclosed). The arguments of the Counsel for the Operational Creditor are heard. None appeared for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... College, Visakhapatnam, Andhra Pradesh-530017; e-mail: gudlasrinivasrao@gmail.com; Mobile: 8885524036 is appointed as the Interim Resolution Professional. No disciplinary proceeding is pending against him as per the IBBI website. He is directed to file his written consent in Form No. 2 forthwith. ii. He is directed to take charge of the Corporate Debtor's management forthwith and take necessary steps in furtherance of the CIRP in terms of Sections 13(2), 15, 17, 18 and 20 of Code and Rules made thereunder. iii. Moratorium in respect of the Corporate Debtor is hereby declared in terms of Section 14 of the Code. iv. The Directors, Promoters or any other person(s) associated with the management of Corporate Debtor shall ext ..... X X X X Extracts X X X X X X X X Extracts X X X X
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