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TMI Blog2018 (12) TMI 1936X X X X Extracts X X X X X X X X Extracts X X X X ..... r L92199GJ1999PLC044045 and is having multiplexes across India, against the A TO Z BARTER PVT. LTD. (for brevity "Corporate Debtor") having identification number: U70102DL2008PPC178620. It is submitted by the Operational Creditor that Corporate Debtor had placed an order for the screening of a 60 second "Rasna" commercial ("Commercial") at specified multiplexes of INOX under 5 release orders issued by Corporate Debtor to Operational Creditor. That the present case arises out of the above Release Orders executed between the Operational Creditor and the Corporate Debtor and pursuant to which, payment amounting to Rs. 33,44,035/- have become due as on 12.03.2018. The release Orders are Collectively annexed as Annexure- II/A (Coly). Based on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Application to Adjudicating Authority) Rules, 2016. Wherein the amount in default is a sum of Rs. 33,44,035/- was demanded from the due date of invoices annexed with the demand notice till the date of actual payment and also calling upon the Corporate Debtor to repay the unpaid Operational Debt within 10 days or to demonstrate that the amount claimed as in default has been paid or in the alternative to provide for the existence of any dispute in relation to the unpaid Operational Debt which was successfully delivered. 4. In view of lack of response by way of payment of the amount claimed in default or notice of dispute being issued to the Operational Creditor on the part of the Corporate Debtor, the present application has been preferred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal is of the considered view that this petition requires to be admitted and that CIRP process is required to be initiated against the Corporate Debtor. 8. Since the Applicant has not named the Insolvency Resolution Professional, this Tribunal based on the list furnished by Insolvency and Bankruptcy Board of India appoints Mr. AnoopRumar Goyal, No. IBB1/1PA-001/1P-P00563/2017-18/11039, email: [email protected] Mobile 9820291680, as the Interim Resolution Professional subject to the condition that no disciplinary proceedings are pending against such an IRP named who may act as an IRP in relation to the CIRP of the Corporate Debtor and make disclosures as required under IBBI (insolvency Resolution Process for Corporate Persons) Regulat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on with any financial sector regulator. The duration of the period of moratorium shall be as provided in Section 14(4) of IBC, 2016 and for ready reference reproduced as follows:- (4) The order of moratorium shall have effect from the date of such order till the completion of the corporate insolvency resolution process: Provided that where at any time during the corporate insolvency resolution process 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. 10. The Applicant is directed to pay a sum of ru ..... X X X X Extracts X X X X X X X X Extracts X X X X
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