9911796707
TMI Blog2022 (5) TMI 917X X X X Extracts X X X X X X X X Extracts X X X X ..... ruptcy Code, 2016, R/w. Rule 6of Insolvency & Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, seeking admission of the Petition, commencement of Corporate Insolvency Resolution Process, granting moratorium and appointment of Interim Resolution Professional as prescribed under the Code and Rules thereon. 2. AVERMENTS; 2.1 It is averred that the Corporate Debtor is in the business of running a television channel and/or electronic media activities. The corporate debtor approached the operational creditor and requested for the building consisting of 3 floors and a cellar on lease. Thereafter entered into Lease Agreement dated 29.05.2013. The agreement was filed along with application as Annexure-6. 2.2 As per the agreem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14, 15. 2.7 It is further affirmed that even after the expiry of the statutory period of 10 days, the Corporate Debtor failed to repay the amount and with regard to the claimed debt amount no dispute was put-forth by the Corporate Debtor. 3. FINDINGS: 3.1 It is noted that the Corporate Debtor has taken the building for lease and had defaulted in paying the rents as per the agreement entered between them. 3.2 It is noted that a demand notice was issued to the Corporate Debtor and the same was delivered to the registered office of Corporate Debtor and Corporate Debtor has come up for clearing dues and underwent an MOU, but failed to pay the debt in spite of receipt of demand notice and no dispute was raised. 3.3 It is noted that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 2002 (54 of 2002); the recovery of any property by an owner or lessor where such property is occupied by or in possession of the corporate Debtor; (b) That the supply of essential goods or services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. (c) That the provisions of sub-section (1) of Section 14 shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. (d) That the order of moratorium shall have effect from the date of this order till the completion of the Corporate Insolvency Resolution Process or until this Bench approves the Resolution Plan under Sub-Section (1) of Section 31 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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