R.P.Nagrath, Member - (1.) Ca No.14/2018 This application has been filed by the corporate debtor under Sections 60(5)(a) and 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 on behalf of the suspended Board of Directors seeking release of the corporate debtor from the resolution process as the matter with the operational creditor who filed petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 has been settled and no other claims have been received in response to the Public Announcement and the financial institutions have also given their certificates. Notice of this petition was given to the Interim Resolution Professional as well as Mr. Harsh Garg, Advocate who filed the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. Mr. Harsh Garg, Advocate has handed over the Power of Attorney from the operational creditor. Be taken on record. The petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by operational creditor was admitted on 08.01.2018 declaring the moratorium and appointing Mr. Sanjay Kumar Aggarwal as the Interim Resolution Professional.
(2.) When this application was listed on 16.01.2018, the matter was adjourned for today and in view of the submissions made, the Interim Resolution Professional was directed to file his report.
(3.) First weekly report was filed by the Interim Resolution Professional on 15.01.2018 with regard to various compliances like public announcement in the newspapers and appointment of the registered Valuers. The Interim Resolution Professional submitted that he interacted with the employees/staff of the company and also the time granted for filing of the claims, if any, by them for which the last date was on 21.01.2018 . In the 2nd weekly report dated 22.1.2018 the Interim Resolution professional submitted that he has filed the report in view of the directions issued by this Tribunal. It is stated that despite expiry of the period during which the claims were to be filed, no claims have been received from any Financial Creditors or the operational creditor including the employees. The Interim Resolution Professional states that on checking of the records the statutory dues are being paid by the corporate debtor regularly.;