JEENA & CO Vs. INOX WIND LIMITED

JUDGEMENT

(1.) Mr. Jitesh Gupta, Authorised Representative of the respondent/Corporate Debtor has filed Memo of Appearance along with the resolution of the Board of Directors dated 26.10.2017 authorising Devansh Jain, Rajeev Gupta, Whole Time Directors, Bhupesh Juneja, Authorised Signatory, Jitendra Mohananey, Chief Financial Officer and Kalyan Ghosh, Head - Legal and Secretarial, severally to sign, verify, appear, present, submit and to file plaints, applications, written statements, affidavits, vakalatnamas, written statement of defence etc. in case filed by or against the respondent/Corporate Debtor. It was further resolved that Devansh Jain, Rajeev Gupta and Kalyan Ghosh aforesaid are severally authorised to delegate the aforesaid powers to any other person(s) to give effect to this resolution. Mr. Jitesh Gupta has also fried the authority letter dated 10.07.2017 executed by Kalyan Ghosh, one of the authorised person, in favour of Mr. Jitesh Gupta to represent the company before the National Company Law Tribunal, Chandigarh.

(2.) The petition was admitted on 05.07.2017 and certain directions were issued declaring moratorium and the matter was fixed for today for appointment of Interim Resolution Professional and further directions.

(3.) The instant petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the Operational Creditor for initiating insolvency resolution process on account of the default in payment of debt committed by the Corporate Debtor. Notice of hearing was issued to the Corporate Debtor but there was no representation on its behalf when the matter was admitted. The petition was admitted on 05.07.2017 by a detailed order.