TMI Blog2022 (10) TMI 146X X X X Extracts X X X X X X X X Extracts X X X X ..... amount is more than Rupees One Crore and default of the Corporate Debtor has been established and the application deserves to be admitted. Petition admitted - moratorium declared. - CP (IB)738/MB/C-IV/2021 - - - Dated:- 3-10-2022 - Shri Manoj Kumar Dubey Hon ble Member ( Technical ) And Shri Kishore Vemulapalli Hon ble Member ( Judicial ) For the Petitioner : Mr. Farhan Dubash , Advocate For the Respondent : Ms. Pragya Khaitan , Advocate ORDER Per : Kishore Vemulapalli , Member ( Judicial ) 1. This is a Company Petition filed under section 9 of the Insolvency Bankruptcy Code, 2016 (IBC) by Srinidhi Comprint Private Limited ( the Operational Creditor ), seeking to initiate Corporate Insolvency Resolution P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. The Operational Creditor/Petitioner issued Demand Notice u/s 8 of Insolvency and Bankruptcy Code, 2016 dated 24.05.2021 in Form 3 thereby demanding for repayment of outstanding amount to the tune of Rs.1,44,07,834/-. Despite receipt of said Demand Notice, the Corporate Debtor neither replied to the same nor repaid the outstanding dues. 8. The Operational Creditor/Petitioner filed affidavit u/s 9(3)(b) of the Code thereby stated that no notice of dispute has been raised by the Corporate Debtor nor received any communication regarding any dispute in response to the said Demand Notice. 9. The Operational Creditor/Petitioner submits that the Corporate Debtor has sent an email on 04.04.2019 thereby confirming the outstandin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rusal of records it is seen that the Petition was filed on 13.07.2021 and the last payment was received by the Operational Creditor from the Corporate Debtor on 18.10.2019. Thus, in view of this, the Petition squarely falls within the period of limitation i.e. 3 years as prescribed u/s 18 of Limitation Act, 1963. 13. The application is complete and has been filed under the proper form. The debt amount is more than Rupees One Crore and default of the Corporate Debtor has been established and the application deserves to be admitted. 14. The Operational Creditor/Petitioner has filed an Interlocutory Application having No. 2145/2022 for placing the consent of IRP in FORM-2 on record. On 11.08.2022, the I.A. was heard by this Bench and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the above, during the period of moratorium, - (v) The supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during the moratorium period; (vi) That the provisions of sub-section (1) of section 14 of the IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any sectoral regulator; c) The moratorium shall have effect from the date of this order till the completion of the CIRP or until this Tribunal approves the resolution plan under sub-section (1) of section 31 of the IBC or passes an order for liquidation of Corporate Debtor under section 33 of the IBC, as the case may be. d) Public announcement of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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