TMI Blog2022 (5) TMI 871X X X X Extracts X X X X X X X X Extracts X X X X ..... ed on 13.09.2021. However, the Corporate Debtor neither paid the outstanding amount nor replied to the said demand notice. Moreover, the Corporate Debtor has admitted the aforesaid outstanding amount in its reply to the application dated 24.12.2021. Instant application is otherwise complete as per the provisions of section 9 (5) of the IB Code and meets the threshold limit as prescribed under Section 4 of the IB Code - The date of default is 25.04.2021 as per part IV of form V, and application is filed on 02.12.2021 hence the application is within limitation and not barred by law. Petition admitted - moratorium declared. - C. P. (IB)/241(AHM)/2021 - - - Dated:- 26-4-2022 - Dr. Deepti Mukesh, Member (J) And Ajai Das Mehrotra, Membe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s were made by the Operational Creditor to the Corporate Debtor for the payment of the outstanding amount. But the Corporate Debtor failed to pay the aforesaid outstanding amount. Thereafter, the Operational Creditor sent a reminder letter dated 16.08.2021 for payment of outstanding amount of Rs. 1,49,20,054/-. The Corporate Debtor, in response to the aforesaid letter, sent a letter dated 18.08.2021 to the Operational Creditor and stated that there is a financial crisis due to the Covid-19, hence, the Corporate Debtor is unable to pay the outstanding amount. Further Corporate Debtor undertook to pay the aforesaid outstanding amount as soon as finance will be available. 5. Under the compelling circumstances, the Operational Creditor issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was issued to the Corporate Debtor by the Operational Creditor and the same was delivered on 13.09.2021. However, the Corporate Debtor neither paid the outstanding amount nor replied to the said demand notice. Moreover, the Corporate Debtor has admitted the aforesaid outstanding amount in its reply to the application dated 24.12.2021. 9. Instant application is otherwise complete as per the provisions of section 9 (5) of the IB Code and meets the threshold limit as prescribed under Section 4 of the IB Code. 10. The date of default is 25.04.2021 as per part IV of form V, and application is filed on 02.12.2021 hence the application is within limitation and not barred by law. 11. As a sequel to the above the application is admitted und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Dhaval Jitendrakumar Mistry having Registration Number IBBI/IPA-001/IP-P-01853/2019-20/12849 (email: cadhavalmistrv@yahoo.com, Address: 9-B, Vardan Complex, Near Vimal House, Lakhundi Circle, Navrangpura, Ahmedabad-380014), duly registered with Indian Institute of Insolvency Professional of ICAI, as the Interim Resolution Professional whose consent in Form 2 under Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) Rules, 2016 stating therein that no disciplinary proceedings are pending against the named IRP, is on record. Accordingly, we appoint Mr. Dhaval Jitendrakumar Mistry as IRP of the Corporate Debtor. 14. The IRP shall perform all his functions as contemplated under various provisions of the Code. I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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