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M/S SUNTECH Infra Solutions Pvt. Ltd. vs M/S CINDA Engineering & Construction Pvt. Ltd.

National Company Law Appellate Tribunal · Decided on 14 November 2018 · Citation: (2018) 11 NCLT CK 0001

HON’BLE JUDGES
Dr. Deepti Mukesh, J
ACTS & SECTIONS REFERRED
Insolvency And Bankruptcy (Application To Adjudicating Authority) Rules, 2016 — Rule 6 · Insolvency And Bankruptcy Code, 2016 — Section 8, 9, 9(3)(c), 9(5), 14(1), 14(2), 14(3), 15, 17, 18, 20, 21, 31(1), 33
RESULT
Allowed
CASE NUMBER
Company Petition No. IB-788/ND Of 2018
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Judgment

26 paragraphs · 348 words

DATE,INVOICE NO.,AMOUNT (Rs.)

01.02.2017,RA 01,"12,90,498/-

01.03.2017,RA 02,"49,20,042/-

31.03.2017,RA 03,"1,23,68,593/-

02.06.2017,RA 04,"36,12,258/-

29.06.2017,RA 05,"6,77,512/-

29.06.2017,RA 06,"45,52,527/-

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.,,

However, during the pendency of the moratorium period in terms of Section 14(2) and 14(3) as extracted hereunder:",,

(2) 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.,,

(3) The provisions of sub-section (1) shall not apply toâ€",,

a. such transaction as may be notified by the Central Government in consultation with any financial sector regulator.,,

b. a surety in contract of guarantee to a Corporate Debtor.,,

(4)The order of moratorium shall have effect from the date of this order till the completion of the corporate insolvency resolution process, provided",,

that where at any time during the corporate insolvency resolution process period, if the Adjudicating Authority approves the resolution plan under sub-",,

section (1) of section 31 or passes an order for liquidation of corporate debtor under section 33, the moratorium shall cease to have effect from the",,

date of such approval or liquidation order, as the case may be.",,

In terms of above order, the Application stands admitted in terms of Section 9(5) of IBC, 2016.",,

19.

The Operational Creditor has not proposed the name of any Interim Resolution Professional. In view of the same, this Bench appoint Mr. Vijender",,

Sharma having registration no. IBBI/IPA-003/IP-N00003/2016-17/10022 having email address vijender@vsa.net.in as the IRP of the Corporate,,

Debtor. The IRP is directed to take all such steps as are required under the statute, more specifically in terms of Sections 15,17,18,20 and 21 of the",,

Code.,,

20.

A copy of the order shall be communicated to the Applicant as well as to the Corporate Debtor above named by the Registry. Further the IRP,,

above named be also furnished with copy of this order forthwith by the Registry. In addition, a copy of the order shall also be forwarded to IBBI for",,

its records.,,