Mohd Sharief Tariq, Member - (1.) Under Adjudication is CP/683/(IB) /CB/2017 that has been filed by the Operational Creditors under Section 9 of the Insolvency & Bankruptcy Code 2016 (in short, l&B Code, 2016') r/w the Insolvency & Bankruptcy (Application to Adjudicating Authority Rules, 2016) . The prayer made is to admit the Application, to initiate the Corporate Insolvency Resolution Process against the Corporate Debtor, declare moratorium and appoint Interim Resolution Professional (IRP) under the Insolvency and Bankruptcy Code, 2016 (I&B Code) .
(2.) Heard the Counsels for the Operational Creditors and Corporate Debtor and perused the record.
(3.) The Counsel for the Operational Creditors has given the details of two agreements entered into between the Operational Creditors and the Corporate Debtor. In response, the Counsel for the Corporate Debtor has also referred to three Joint Venture Agreements executed between the Operational Creditors and Corporate Debtor.;