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TMI Blog2022 (9) TMI 1345X X X X Extracts X X X X X X X X Extracts X X X X ..... vity 'IBC' / 'Code'), by Dextra India Private Limited (for brevity 'Operational Creditor'/ 'Applicant'), represented by its Authorised Representative, Mr. Sunil Desai, with a prayer to initiate Corporate Insolvency Resolution Process (CIRP) in case of RCC Infraventures Limited (for brevity 'Corporate Debtor'/ 'Respondent'). 2. The Corporate Debtor, namely, RCC Infraventures Limited, is a Company incorporated on 16.05.2011 under the provisions of Companies Act, 1956 with CIN No. U45400HR2011PLC048807 with its registered office at 14, Ground Floor, Vipul Agora, M.G. Road, Sector 28, Gurgaon, Haryana-122 001. Hence, the territorial jurisdiction lies with this Adjudicating Authority. Copy of master data of the corporate debtor is attached with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion as Annexure-D . However, reply to the demand notice has been stated to be received on 30.11.2019 whereby they alleged that there are pre-existing disputes between operational creditor and corporate debtor. 6. Notice of this petition was issued to the corporate debtor vide order dated 10.12.2020 to show cause as to why this petition be not admitted. None appeared on behalf of the corporate-debtor. Thereafter as per order dated 12.04.2022 of this Adjudicating Authority, affidavit of service has been filed bearing diary No.00331/6 dated 22.04.2022. However, despite service, there was no representation from the respondent-corporate debtor and even no reply was filed. Therefore, respondent-corporate debtor has been set ex-parte. The short w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. As discussed above, there is a total unpaid operational debt (in default) of Rs. 18,41,043 (including interest). The operational creditor has sold, supplied and delivered goods to the corporate debtor and invoices attached as Annexure-C. 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. 12. 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 from the above-mentioned facts that the lia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 14. It is further directed that the supply of essential goods or services to the corporate debtor as may be specified, shall not be terminated or suspended or interrupted during moratorium period. The provisions of Section 14(3) shall, however, not apply to such transactions as may be notified by the Central Government in consultation with any operational sector regulator and to a surety in a contract of guarantee to a corporate debtor. 15. The order of moratorium shall have effect from the date of this order till completion of the corporate insolvency resolution process or until this Bench approves the resol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 18 and other relevant provisions of the Code, including taking control and custody of the assets over which the Corporate Debtor has ownership rights recorded in the balance sheet of the Corporate Debtor etc. as provided in Section 18 (1) (f) of the Code. The Interim Resolution Professional is directed to prepare a complete list of inventory of assets of the Corporate Debtor; iii.) The Interim Resolution Professional shall strictly act in accordance with the Code, all the rules framed thereunder by the Board or the Central Government and in accordance with the Code of Conduct governing his profession and as an Insolvency Professional with high standards of ethics and moral; iv.) This Adjudicating Authority directs the ex-management ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecords as well as assets of the Corporate Debtor; vi.) This Adjudicating Authority directs the ex-management and promoters of the corporate debtor to specifically comply with the provisions of the Sub Regulation (2) of Regulation 4 of the Insolvency Resolution Process for Corporate Persons Regulations, 2016. This Adjudicating Authority further directs that the Interim Resolution Professional should also make all efforts simultaneously to retrieve the required information from the computerized data of the corporate debtor from the systems handed over to IRP after initiation of CIRP. For retrieving relevant information, the Interim Resolution Professional may take the help of any digital forensic companies from the empanelled list availabl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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