Page 749 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
By Hon’ble NCLT Mumbai Bench

3.2 The Creditor has also given sufficient opportunity by issuing notices and by demanding the repayment
as per the evidences on record such as Tracking Detail of the Consignment affirming the delivery of the
consignment. On 28.06.2017 by Speed Post a notice was issued and a copy of the Petition was annexed

which was delivered on 30.06.2017 as per the Tracking Record of the consignment issued by the Postal
Department. Even on service of notices and even on repeated reminders, as explained by Learned

Counsel, the Debt remained unpaid by the Financial Debtor.

3.3 Considering the totality of the facts and circumstances inter alia this Petition now under consideration
deserves to be "Admitted".

3.4 The Petitioner has proposed the name of the Interim Resolution Professional Mr. Javadshah Vasa,
CA, M N 3 and Associates, Registration Number: IBBI/IPA001/IP-00570.2016-2017/1455, Tel:

9820777577 / 26189956 / 26189976, email: jkvasaco©gmail.com. The appointed IRP shall perform the
duties as defined under section 18 of the Code. He shall also submit the resolution plan for approval as

prescribed under section 31 of the Code.

3.5 Since the Petition is Admitted, hence the Moratorium shall commence as prescribed under section 14
of the I&B Code as under :-

I (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 Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act, 2002(SARFAESI Act);

(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,

(II) That supply of essential goods or services to the corporate debtor, if continuing, shall not be
terminated or suspended or interrupted during moratorium period.

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