2019] 223
The
registered
office
of
corporate
debtor
is
situated
in
Jaipur
and
therefore
this^
Tribunal
has
jurisdiction
to
entertain
and
try
this
application.The
default
occurred
from
22. 03. 2017 ,
from
the
date
of
issue
of
loan
recalling^
notice
and
demanding
payment
of
debt
hence
the
debt
is
not
time
barred^
and
the
application
is
filed
within
the
period
of
limitation.In
the
given
facts
and
circumstances,
the
present
application
is
complete
and^
the
Applicant
is
entitled
to
claim
its
dues,
establishing
the
default
in
pay
ment -
of
the
operational
debt
beyond
doubt.
In
the
light
of
above
facts
and
records^
the
present
application
deserves
to
be
admitted.The
Applicant
has
named
the
Interim
Resolution
Professional
(IRP),
to
be
appointed^
by
the
order
of
Tribunal
and
accordingly
Mr.
Brij
Kishore
Sharma
having^
registration
number
IBBI/IPA- 002 /IP-N 00036 / 2016 - 17 / 10075
and
E-Mail^
ID
bksharmal 62 @gmail.com,
Mobile
No.
:
9314517929 ,
duly
registered
with^
Insolvency
and
Bankruptcy
Board
of
India,
is
appointed
as
the
Interim
Resolution^
Professional.
The
applicant
has
filed
consent
in
Form
2
of
Insol
vency -
and
Bankruptcy
Board
of
India
(Application
to
Adjudicating
Authority)
Rules,^
2016
stating
therein
that
no
disciplinary
proceedings
are
pending
against
named^
IRP.As
a
consequence
of
the
above
discussion
application
is
admitted
in
terms
of^
section
9 ( 5 )
of
IBC,
2016
and
moratorium
as
envisaged
under
the
provisions
of^
section
14 ( 1 )
shall
follow
in
relation
to
the
Corporate
Debtor
prohibiting
all
of^
the
actions
mentioned
under
section
14 ( 1 )(
a)
to
(
d).However,
during
the
pendency
of
the
moratorium
period
the
prohibition
of^
any
activity
shall
not
apply
in
terms
of
Section
14 ( 2 )
and
14 ( 3 ),
as
mentioned
in^
the
code.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.The
Interim
Resolution
Professional
shall
perform
all
his
functions
con
templated, -
inter alia,
by
Sections
15 , 17 , 18 , 19 ,
20
&
21
of
the
Code
and
transact
proceedings^
with
utmost
dedication,
honesty
and
strictly
in
accordance
with
the^
provisions
of
the
‘Code’,
Rules
and
Regulations.
It
is
further
made
clear
that^
all
the
personnel
connected
with
the
Corporate
Debtor,
its
promoters
or
any^
other
person
associated
with
the
Management
of
the
Corporate
Debtor
are
under^
legal
obligation
under
Section
19
of
the
Code
to
extend
every
assistance
and^
co-operation
to
the
Interim
Resolution
Professional
as
may
be
required
by^
him
in
managing
the
day-to-day
affairs
of
the
‘Corporate
Debtor’.
In
case
there^
is
any
violation,
the
Interim
Resolution
Professional
would
be
at
libertyAvon Clothing (P.) Ltd.
v.
Siddarth Intercrafts (P.) Ltd. (NCLT - Jaipur)