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Judgment
Heard Learned Counsel for the Appellant, she submits that Ld. Adjudicating Authority erroneously held that the services provide to the Corporate Debtor and admitted the application under Section 9, actually services provided to sister concern of the Corporate Debtor and invoices were also issued in their name.
Issue notice to Respondent through Speed Post as well as email (Both Mode). Requisites along with process fee be filed within two weeks. Appellant to provide email address of the Respondent.
Learned Counsel appearing on behalf of the Respondent No.2/RP accepts notice. He is directed to file the Status Report. On asking he informed that CoC has not been constituted as yet.
We direct that constitution of the CoC be put on hold till the next date of hearing.
The Appellant/Promoters of the 'Corporate Debtor' are directed to handover the assets and records of the 'Corporate Debtor' to the 'Interim Resolution Professional' immediately (if not yet handed over). The 'Interim Resolution Professional'/ RP will ensure that the Company remains a going concern and will take assistance of the (suspended) Board of Directors and the officers/Director/Employees. The persons who are working will perform their duties including the paid Directors. The person who is authorized to sign the bank cheques may sign cheques only after authorization of the 'Interim Resolution Professional' with counter signature of the 'Interim Resolution Professional'/ RP at the back side of the cheques. In such case, the Bank shall release the payment. The 'Interim Resolution Professional' will place this order before the Banks, in which accounts of 'Corporate Debtor' are maintained. The Bank Account(s) of the 'Corporate Debtor' be allowed to be operated through IRP/RP for day-to-day functioning of the Company such as for payment of Current Bills of the Suppliers, Salaries and Wages of the employees'/workmen, electricity bills etc.
Let the matter be fixed for 'Admission (After Notice)' on 16th November, 2021.