HOTEL JANA PRIYA Vs. BONTON SOFTWARES PRIVATE LTD

JUDGEMENT

(1.) Under adjudication is an application filed under section 9 of IBC, 2016. Having perused the application and the documents placed on record, it is established that the corporate debtor defaulted in payment to the tune of Rs. 19,78,873/-. Notice under Section 8 has been served. There has been no reply given. A copy of the petition has been served on the corporate debtor. An affidavit has been filed to the effect that no notice is received in relation to the existence of any dispute from the corporate debtor. Bank statement is also enclosed.

(2.) After having satisfied that all the requirements under law have been fulfilled, we hereby allow the application of the operational creditor and order the commencement of the corporate insolvency resolution process which ordinarily shall get completed within 180 days, reckoning from the day this order is passed. There is no suggestion regarding the name of the Chartered Accountant for appointment of interim insolvency professional. Therefore, we direct the Registry to make a reference to the IBBI for recommending an insolvency professional. However, we declare the moratorium which shall have effect from the date of this order till the completion of corporate insolvency resolution process. Therefore, we order to prohibit all of the following, namely:

(3.) Accordingly, the application is admitted. The appointment of interim insolvency professional shall be made after receiving the recommendation from IBBI and the public announcement shall be made with three days from the date the interim insolvency professional is appointed. The Registry is directed to put up the matter after receiving the recommendation of the IBBI.