TMI Blog2022 (5) TMI 310X X X X Extracts X X X X X X X X Extracts X X X X ..... in which the interest has also been charged. Therefore, the present Application is within the period of limitation and not barred by law. Application admitted - moratorium declared. - CP (IB) No. 839/NCLT/AHM/2019 - - - Dated:- 27-4-2022 - M. B. Gosavi , Member ( J ) And Kaushalendra Kumar Singh , Member ( T ) For the Appellant : Aditya Gundecha and Narendra L. Jain , Learned Counsels For the Respondents : Ravi Pahwa , Learned Counsel ORDER 1. The instant Application is filed by the Financial Creditor 'Mohan Polyfab Pvt. Ltd.'(for brevity 'the Applicant'), under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'Code') read with Rule 4 of the Insolvency and Bankruptcy (Appli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wards the interest and partially towards the principal. On 31.10.2019 an amount of Rs. 17,42,753/- was due and payable to the Financial Creditor. This amount has not been paid despite reminders by the applicant and promises of payment by the Corporate Debtor. A cheque issued towards the part-payment of the aforesaid dues was also dishonoured. 6. The Financial Creditor states that after the filing of the present application and service of notice also, the Corporate Debtor has made a statement before this Hon'ble Tribunal that settlement will be arrived at and that payment of the entire amount shall be made. However, even that statement has been flouted and no payment as promised has been made. No settlement agreement has been entered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the officer of the Corporate Debtor has not taken any calls after that. 10. An additional affidavit has also been filed by the Financial Creditor with regard to the query raised to change in the name of the Corporate Debtor to bring on record the Certificate of Incorporation from Care Corupack Limited to Mahip Industries Ltd. Which certificate also states that the company was originally incorporated with the name Care Beverages (India) Limited . 11. In the instant matter, the Corporate Debtor had time and again acknowledged the debt within limitation period which resulted in fresh period of limitation. The Corporate Debtor never disputed the bank statement or any other documents annexed by the Applicant. There is a payment o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ration Panels or other Authority(s), transferring, encumbering, alienating or disposing (of by the Corporate Debtor) any of Corporate Debtor assets or any legal right or beneficial interest therein; 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 S ARF AESI Act, 2002 the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the Corporate Debtor. v. That the supply of essential goods or services to Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during the Moratorium, period. The Corporate Debtor to provide effective assistance to the IRP as a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s assigned to him in accordance with Regulation 6 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016. The needful shall be done within one week from the date of receipt this of order by the Financial Creditor. x. The Registry is directed to communicate this order to the Petitioner-Financial Creditor, Corporate Debtor, and the Interim Resolution Professional and the concerned Registrar of Companies, after completion of necessary formalities, within three working days and upload the same on the website immediately after pronouncement of the order. In addition, a copy of the order shall also be forwarded to IBBI for its records. RoC shall send compliance report to the Registr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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