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TMI Blog2018 (7) TMI 2317X X X X Extracts X X X X X X X X Extracts X X X X ..... al Bhat) Member(Judicial) For the Appellant : Mr. Arun Kathpalia, Mr. Shankh Sengupta, Mr. Aanchal Kapoor and Ms. Bani Brar, Advocates For the Respondents : Mr. Ashok Kumar Juneja, Ms. Renu Tyagi and Mr. Mithilesh Kumar, Advocates for RP (R-2) ORDER This appeal has been preferred by the appellant Prajna Prakash Nayak, shareholder and Managing Director of M/s Business Arts India Private Limited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebtor before admitting the application under Section 9. 3. Learned counsel appearing on behalf of the respondent submitted that the Corporate Debtor avoided to receive the notice though the notice was sent in the registered office of the Corporate Debtor as shown in the web site of the Ministry of Corporate Affairs. 4. Further, according to him the notice for date of hearing was also served on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... suance of Demand Notice under Section 8(1) is not a mere formality but a mandatory provision. Only after service of notice under Section 8(1) and on completion of 10 days, if payment towards the demand is not made, an Operational Creditor accrues right to file application under Section 9 and not before such date. 7. In that view of aforesaid admitted position and in absence of service of Demand N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e' 2016. 10. In view of the aforesaid findings, we have no other option but to set aside the impugned order dated 19th April, 2018 in CP (IB) No. 48/9/HDB/2018. 11. In effect, order (s), passed by the Adjudicating Authority appointing 'Resolution Professional', declaring moratorium, freezing of account, and all other order (s) passed by the Adjudicating Authority pursuant to impugned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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