TMI Blog2022 (9) TMI 1345X X X X Extracts X X X X X X X X Extracts X X X X ..... on? - HELD THAT:- This application was filed on 24.02.2020 vide Diary No.1482. Whereas the date of default is 18.05.2019 i.e. 30 days from the date of first outstanding invoice dated 18.04.2019, therefore, this Adjudicating Authority finds that this application has been filed within limitation. It is seen that the petition preferred by the petitioner is complete in all respects. The material on record 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 is admitted - moratorium declared. - CP ( IB ) No. 182/Chd/Hry/2020 - - - Dated:- 28-9-2022 - Hon ble Mr. Harnam Singh Thakur , Member ( Judicial ) And Hon ble Mr. Subrata Kumar Dash , Member ( Technical ) For the Petitioner-Operational Creditor : Mr. Amitabh Tewari , Advocate For the Respondent-Corporate Debtor : Proceeded ex parte vide order dated 30.06.2022 JUDGMENT Per : Harnam Singh Thakur , Member ( Judicial ) The present petition is filed, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 written submissions are also filed by Operational Creditor vide Diary No.00331/9 dated 23.08.2022. 7. We have heard the learned counsel for the petitioner and have perused the records. 8. The first issue for consideration is whether the demand notice in Form 3 dated 13.11.2019 was properly served. The petitioner has placed a copy of the notice which was delivered to the corporate debtor. 9. The next issue for consideration is whether the operational debt was disputed by the corporate debtor. It is to be noted that none appeared on behalf of the corporate debtor despite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terms of sub-section (1) of Section 14 of the code to take effect and appoint Interim Resolution Professional as below: a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; c) 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 Securitization and Reconstruction of Operational Assets and Enforcement of Security Interest Act, 2002; and d) the 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 transactio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 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 available with the Registry of this Adjudicating Authority, if required. This is imperative for meeting the Code s objectives for maximizing the value of the assets of the corporate debtor and completing the Resolution Process in a time-bound manner. The Interim Resolution Professional is also directed to make a specific mention of non-compliance, if any, in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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