TMI Blog2021 (11) TMI 950X X X X Extracts X X X X X X X X Extracts X X X X ..... cs Private Limited and Interim Resolution Professional, Mr. Piyush Moona is directed to resume his duties as per direction of this adjudicating authority in the order dated 03.09.2019. Admission order against the corporate debtor dated 03.09.2019 is hereby, revived/restored - Application allowed. - I.A. No. 2096/2021 in IB-619(ND)/2019 - - - Dated:- 23-11-2021 - Bachu Venkat Balaram Das, Member (J) And Narender Kumar Bhola, Member (T) For the Appellant : Aabhas Singh, Advocate ORDER Bachu Venkat Balaram Das, Member (J) 1. The present application has been filed by the Applicants/Financial Creditor for revival/restoration/re-initiation of Corporate Insolvency Resolution Process (CIRP) admitted on 3rd September, 2019 in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... corded that the CIR Process can be revived by the Applicant/Financial Creditor in case of breach of terms of settlement or default of any post-dated cheque. The Hon'ble NCLAT further observed that on completion of compliance of terms and conditions the application u/s. 7 will be deemed to have been withdrawn by 'Intec Capital Ltd.', otherwise the order setting aside the impugned order dated 3rd September, 2019 shall stand recalled and the Corporate Insolvency Resolution Process will continue. It is stated that the Corporate Debtor/Promoter has miserably failed to honour and comply with the terms and conditions of the settlement deed dated 02.12.2019 as the post-dated cheques bounced on one pretext or another. d. It is argue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n liberty to file fresh claim with Interim Resolution Professional. 3. The respondent has been provided with various opportunities to file reply; however, no reply has been filed by the respondent/Corporate Debtor to the present application. Hence, this Adjudicating Authority in its order dated 08.11.2021 has closed the right to file reply of the Corporate Debtor. 4. We have gone through the Application and arguments advanced by the counsel. The Hon'ble Appellate Authority in para 11 of its order dated 06.12.2019 has stated that: 11. Terms of Settlement as recorded by the Hon'ble Mediator should be treated to be order and direction of this Appellate Tribunal to be complied by all the parties including the Promoters of &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ingh Sons Hydraulics Private Limited and Interim Resolution Professional, Mr. Piyush Moona is directed to resume his duties as per direction of this adjudicating authority in the order dated 03.09.2019. 5. Admission order against the corporate debtor dated 03.09.2019 is hereby, revived/restored. Accordingly, IA-2096/2021 in IB-619(ND)/2019 is Allowed to the extent relief granted above. 6. The financial Creditor is directed to communicate this Order to the RP and the Corporate Debtor with immediate effect. 7. The Registry is directed to send a copy of this order to the Registrar of Companies concerned for updating the status of Corporate Debtor on the MCA-21 site of Ministry of Corporate Affairs for information of all concerned. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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