9911796707
TMI Blog2022 (3) TMI 755X X X X Extracts X X X X X X X X Extracts X X X X ..... against Viaan Industries Limited ("Corporate Debtor"). 2. The Corporate Debtor is a Public company limited by shares and incorporated on 19.10.1982 under the Companies Act, 1956, with the Registrar of Companies, Maharashtra, Mumbai. Its Corporate Identity Number (CIN) is L52100MH1982PLC291306. Its registered office is at Saisha Bungalow No. 10/87, Mhada, SVP Nagar, Janki Devi School Road, Versova, Andheri West, Mumbai - 400053. Therefore, this Bench has jurisdiction to deal with this petition. Submissions made by Financial Creditor by way of Application/Petition: 3. The Corporate Debtor, pursuant to a loan agreement dated 12.11.2017, had borrowed the amount of Rs. 3, 90,00,000/- from the Financial Creditor for a period of 18 months at 12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ors. [Writ Petition (Civil) No. 99 of 2018] wherein the Hon'ble Supreme Court held that in section 7 of the Petition when the debt and default is proved the Adjudicating Authority bound to admit the Petition. Unlike section 9 where the scope to look into, disputes which is necessary to be considered before admission of the Petition. In view of the above, the facts and present Petition reveals that the Corporate Debtor has admitted the debt and the same is due and payable. 10. The Financial Creditor has proposed the name of Mr. Prakash Dattatraya Naringrekar, Registration No. IBBI/IPA-002/IP-N00270/2017-2018/10783, as the Interim Resolution Professional of the Corporate Debtor. He has filed his written consent in Form 2 as required unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; (iii) Any action to foreclose, recover or enforce any security interest created by the Corporate Debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002; (iv) The recovery of any property by an owner or lessor where such property is occupied by or in possession of the Corporate Debtor. (c) Notwithstanding the above, during the period of moratorium: (i) The supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during the moratorium p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Debtor shall vest in the IRP or, as the case may be, the RP in terms of section 17 of the IBC. The officers and managers of the Corporate Debtor shall provide all documents in their possession and furnish every information in their knowledge to the IRP within a period of one week from the date of receipt of this Order, in default of which coercive steps will follow. (h) The Financial Creditor shall deposit a sum of Rs. 3,00,000/- (Rupees Three Lakhs only) with the IRP to meet the expenses arising out of issuing public notice and inviting claims. These expenses are subject to approval by the Committee of Creditors (CoC). (i) Registry is directed to communicate this Order to the Financial Creditor, the Corporate Debtor and the I ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
