9911796707
TMI Blog2022 (2) TMI 143X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Limited ("hereinafter referred to as Corporate Debtor") alleging that the Corporate Debtor committed default in making payment to the Financial Creditor in view of the invoices raised by them upon the Corporate Debtor, by invoking under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. 2. The Financial Creditor is a Private Limited Company, registered and incorporated under the Provisions of Indian Companies Act, 1956. The Financial Creditor is carrying business of providing short term and long term lending to individuals, small and medium enterprises. The Corporate Debtor is a Private Limited Company registered and incorporated u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitted to CIRP previously vide orders of NCLT, Hyderabad Bench in CP(IB) No. 95/9/HDB/2018 and subsequently during CIRP process, the Financial Creditor has submitted its claim to Interim Resolution Professional therein and the claim was admitted and the Financial Creditor was included in the Committee of Creditors. The said orders in CP(IB) No. 95/9/HDB/2018 were set-aside by the orders of the Hon'ble NCLAT. An amount of INR 4,67,93,092.95 is due and payable by the Corporate Debtor as on 30.11.2021. The Corporate Debtor is liable to pay interest on the said amount from the said date. 5. I heard the counsel for the Financial Creditor and the Counsel for the Corporate Debtor. The Counsel for the Corporate Debtor submits that there is no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nda, Hyderabad; e-mail: [email protected]; Mobile: 9866294434 is appointed as the Interim Resolution Professional. No disciplinary proceeding is pending against him as per the IBBI website. 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 extend all assistance and cooperation to the IRP as stipulated under section 19 of the Code for effectively disc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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