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Judgment
ORDER
The matter is taken up on VC. Counsel for both the sides are present. It is submitted by both the sides that debt and default pleaded by the Petitioner is admitted. The Corporate Debtor Company is not in a position to repay the debt. In view of the ‘admission’, the Company Petition is allowed. It is hereby ordered as follows.
The Company Petition be and the same is admitted on consent/admission. ii. The Corporate Insolvency Resolution Process of the respondent shall commence from this date and shall be completed within 180 days hence. iii. Mr Ramchandra Dallaram Choudhary, having address at 9B, Vardan Complex, Near Vimal House, Lakhudi Circle, Navrangpura, Ahmedabad - 380014 having Registration No. IBBI/IPA-001/IP-P00157/2017-2018/ 10326 and email ID: rdc@sunresolution.in is appointed as the Interim Resolution Professional. No disciplinary proceeding is pending/proposed against him as per the IBBI website.
He is directed to take charge of the Respondent/Corporate Debtor’s management forthwith and take necessary steps in furtherance of the CIRP in terms of Sections 13(2), 15, 17, 18 and 20 of Code and Rules made there under. v. Moratorium in respect of the respondent is hereby declared under Section 14 of the Code.
The Directors, Promoters or any other person(s) associated with the management of Corporate Debtor shall extend all assistance and cooperation to the IRP as stipulated under section 19 for effectively discharging his functions under the Code.
The Registry is directed to communicate the order to the Petitioner/Financial Creditor and the Respondent/Corporate Debtor forthwith.
The petitioner/OC and the Registry are also directed to send the copy of this order to IRP for necessary compliance.