TMI Blog2022 (3) TMI 407X X X X Extracts X X X X X X X X Extracts X X X X ..... licant - in the given facts and circumstances, it can be concluded that the applicant has established its claim which is due and payable by the corporate debtor. The present application is admitted. Application admitted - moratorium declared. - Company Petition No. IB-372/ND/2020 - - - Dated:- 21-2-2022 - Dr. Deepti Mukesh, Member (J) And Sumita Purkayastha, Member (T) ORDER Sumita Purkayastha, Member (T) 1. This is an application filed by Dalip Narinder Gupta, sole proprietor of M/s. Gem International, the applicant/operational creditor seeking (for brevity Operational Creditor) to initiate CIRP against the Respondent company/Corporate Debtor (for brevity Corporate Debtor) M/s. Aar Vee Printers Private Limited., under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e principal amount of ₹ 6,16,972/-. e. The Corporate debtor had issued cheque towards the outstanding due payment which has been bounced and was dishonored/returned bank unpaid by their Bank. The detail of the same are as follows: a. Cheque No. 078877 dated 05.09.2014 for amount of ₹ 50,000/- drawn on Punjab National Bank, New Delhi. f. The applicant sent demand notice under Section 8 of the code on 05.11.2019 calling upon the corporate debtor to pay the total amount of ₹ 6,25,145/- which was received by the corporate debtor on 21.11.2019. The Copy of demand notice along with postal receipts and the tracking reports has been annexed. 2. Despite opportunities provided to the Respondent, no reply has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ra to meet out the expense to perform the functions assigned to him in accordance with regulation 6 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulations, 2016. The needful shall be done within one week from the date of receipt of this order by the Operational Creditor. The amount however be subject to adjustment by the Committee of Creditors, as accounted for by Interim Resolution Professional, and shall be paid back to the Operational Creditor. 7. As a consequence of the application being admitted in terms of Section 9(5) of IBC, 2016, moratorium as envisaged under the provisions of Section 14(1), shall follow in relation to the corporate debtor, prohibiting as per proviso (a) to ( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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