TMI Blog2022 (7) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication has been filed within limitation. It is noted that the corporate debtor has failed to make payment of the aforesaid amount due as mentioned in the statutory notice till date. Thus, the conditions under Section 9 of the Code stand satisfied. It is evident that the liability of the corporate debtor is undisputed. Accordingly, the petitioner proved the debt and the default, which is above threshold limit. In the present petition all the aforesaid requirements have been satisfied. It is seen that the petition preferred by petitioner is complete in all respect. The material on record which remains unrebutted clearly goes to show that the respondent committed default in payment of the claimed operational debt even after demand made by the petitioner. In view of the satisfaction of the conditions provided for in Section 9(5)(i) of the Code, the petition deserves to be admitted. Petition admitted - moratorium declared. - CP (IB) No. 101/Chd/Pb/2020 - - - Dated:- 27-6-2022 - Hon ble Mr. Harnam Singh Thakur, Member (Judicial) And Hon ble Mr. Subrata Kumar Dash, Member (Technical) For the Petitioner-Operational Creditor : Mr. Mohinder Singh, Advocate, Mr. Harsh G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sent by the petitioner operational creditor is attached as Annexure-5 Page 66-72. 3.2 After the due service of demand notice by way of email, the corporate debtor settled the matter with the petitioner operational creditor vide the settlement letter dated 02.08.2019. By way of this settlement the corporate debtor had given a cheque dated 15.10.2019 of Rs. 15,57,340/- to the petitioner operational creditor towards the full and final settlement of the outstanding debt. Copy of the settlement letter is appended as Annexure-8 Page 76. 3.3 The corporate debtor inspite of giving the cheque dated 15.10.2019 made an oral request to the petitioner operational creditor not to present the aforesaid cheque for clearing and sought some further time to pay the entire outstanding time and in the meantime transferred an amount of Rs. 2 Lac in the account of petitioner operational creditor which was duly adjusted against the outstanding amount of the corporate debtor. 3.4 Copy of ledger account maintained by petitioner operational creditor of the corporate debtor w.e.f. 01.04.2019 to 02.01.2020 along with interest calculations sheet is appended as Annexure-9 Page 77-78. 3.5 The petition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... application is filed within limitation. This application was filed on 23.01.2020 vide Diary No. 651 whereas the date of default is 21.01.2019, therefore, this Adjudicating Authority finds that this application has been filed within limitation. 12. We have gone through the contents of the application filed in the Form 5 and find the same to be complete. As discussed above, there is a total unpaid operational debt (in default) of ₹13,57,339.70/- (Principal Amount). The operational creditor has supplied goods to the corporate debtor and raised invoices attached as Annexure A-4. Accordingly, the petitioner proved the debt and the default, which is more than Rupees one lakh (prior to the amendment in threshold limit of one crore vide notification No. S.O.1205(E) dated 24.03.2020) by the respondent-corporate debtor. 13. It is noted that the corporate debtor has failed to make payment of the aforesaid amount due as mentioned in the statutory notice till date. Thus, the conditions under Section 9 of the Code stand satisfied. It is evident that from the abovementioned facts that the liability of the corporate debtor is undisputed. Accordingly, the petitioner proved the debt and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. 17. The Law Research Associate of this Tribunal has checked the credentials of Ms. Shilpa Singhal and there is nothing adverse against her. In view of the above, we appoint Ms. Shilpa Singhal, Registration No. IBBI/IPA- 001/IP-P02061/2020-2021/13230, E-mail: ipshilpasinghal@gmail.com, Mobile No. 9814612817 as the Interim Resolution Professional with the following directions:- i.) The term of appointment of Ms. Shilpa Singhal shall be in accordance with the provisions of Section 16(5) of the Code; ii.) The Interim Resolution Professional, Ms. Shilpa Singhal is directed to file her written consent in Form-2 within one week of this order. iii.) In terms of Section 17 of the Code, from the date of this appointment, the powers of the Board of Directors shall stand suspended and the management of the affairs shall vest with the Interim Resolution Professional and the officers and the managers of the Corporate Debtor shall report to the Interim Resolution Professional, who shall be enjoined to exercise all the powers as are vested with Interim Resolution Professional and strictly perform all the duties as are enjoined on the Interim Resolution Professional under Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X
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