Even if goods have been supplied without PO you have acknowledged receipt of goods 

2) if there was defect in quality of goods you ought to have returned the goods 

3) if your cheque’s have been dishonoured on presentation it would go against you 

4) it can be taken up in online hearing 

5) you can seek adjournment and make part payment of amount due and payable 

1. It appears you owe the applicant certain sums of money  

2. If that is so then you better make the payment as if you don't have any proper defense of the claim of money you can be adjudged insolvent in this summary proceeding. 

3. So decide accordingly.  Consult with an advocate who knows IBC. All advocates are not conversant with the new IBC. 

if it is your case that the material supplied to you was without a proper purchase order or was defective, then did you ever try to return those materials back to the supplier?

in a NCLT petition filed by an operational creditor, upon the petition being admitted, the company or corporate debtor [that is you] does not automatically become adjudged as insolvent

the petition seeks to revive the company from its insolvency because the company could not make its payment and thereby to enable the company to make the payments to its creditors

once the petition is admitted the management of the company is given to a resolution professional appointed by NCLT

If you had issues with the stock supplied to you and despite that you have still retained that stock and have also defaulted in the payment [you could always pay on a without prejudice note or under protest], then there is no escape from your company being taken over by the RP 

the applicant has to show some urgency in his application for the petition to be heard for admission

if there is no such urgency then the NCLT will not allow that application and the petition will come up for hearing in normal course or when normal court operations resume

it seems the petitioner has only filed the precipe for urgent hearing but no date has been assigned as yet because the petitioner has not intimated you about the next hearing date so far

if the application is allowed and the petition is heard and the petitioner satisfies the court that the ingredients for corporate insolvency resolution process are met, then you cannot seek any time or adjournment

however you can always take advantage of the stay promulgated by the government against admission of such petitions due to COVID for a certain time. Request your advocate to find that amendment act

Dear Sir/Madam,

You are suggested to approach the concerned bench of the NCLT to confirm whether online hearing is going on or not. Even the advocates and party may not sit for the physical hearing but the talks may be arranged by way of video calls, conference call etc. so that the matter of settlement is kept alive. You are suggested to be in touch and close liaison with your advocate so that everything can be planned and done in advance.  

No defective hearing due to corona. Both parties presence is necessary in court. 

This is default committed by purchaser - operational creditor filed insolvency proceeding.

Online hearings depends in the availability of facility in the court and also the matter. This is serious matter but not URGENT, so online hearings MAY not be carried out 

Hearing before NCLT is through VC. No physical hearing are being insisted upon. No hars orders are being passed by the Tribunal due to COVID-19 pandemic situations. 

No ADVERSE order would be passed if both or anyone of both the parties before Tribunal are Absent,  adjournment would be granted. 

Lockdown is till 3oth September 2020.

Therefore at till 30the September 2020 No ADVERSE orders by Tribunal. 

Precepie may have been moved by your opponent therefore you have observed the remark for hearing of the matter in September 2020.

No effective*

Don`t appear in court. No adverse order may pass.

RP proceeding take 180 days extendible to a maximum of 270 day

Once RP initiated, cahrge will taken by RP.

the residence of directors under the company to be vacated by directors or not? - NO, only RP will charge of administration. 

1- By an additional affidavit seek settlement. 

2- No time bounds it commence as per situation and merits of the case. 

3- You may continue No hard rules until prejudice appears. 

You should seek 8 weeks time there is no urgency in the case 

2) RP should take charge within a month or so after order 

3) residence of directors is not to be vacated 

1. just an oral request will do. The court will grant you some reasonable time

2. everything is time bound once the RP is appointed. However if the matter is settled then there is no need for any RP

3. The management of the company is taken over by the RP. The directors are not asked to leave the company premises. It is just that the erstwhile management must not interfere with the RP 

4. Dont worry the directors wont be asked to vacate their residence. Its not that harsh

You need to mutually seek it before tribunal. 

Process (CIRP)

Section 16: Appointment and tenure of interim resolution professional:

*16. (1) The Adjudicating Authority shall appoint an interim resolution professional 1[on the insolvency commencement date].

(2) Where the application for corporate insolvency resolution process is made by a financial creditor or the corporate debtor, as the case may be, the resolution professional, as proposed respectively in the application under section 7 or section 10, shall be appointed as the interim resolution professional, if no disciplinary proceedings are pending against him.

(3) Where the application for corporate insolvency resolution process is made by an
operational creditor and—

(a) no proposal for an interim resolution professional is made,the Adjudicating Authority shall make a reference to the Board for the recommendation of an insolvency professional who may act as an interim resolution professional;

(b) a proposal for an interim resolution professional is made under sub-section (4) of section 9, the resolution professional as proposed, shall be appointed as the interim resolution professional, if no disciplinary proceedings are pending against him.

(4) The Board shall, within ten days of the receipt of a reference from the Adjudicating Authority under sub-section (3), recommend the name of an insolvency professional to the Adjudicating Authority against whom no disciplinary proceedings are pending.

(5) The term of the interim resolution professional 2[shall continue till the date of appointment of the resolution professional under section 22].

Since the courts are not functioning normally due to the current situation, NCLT is also not an exemption.

He has filed for an advance hearing petition  as an urgent petition.

Your advocate will be informed by the court about the developments hence you simply follow it up through your advocate because nothing can be predicted due to the current situation.

Sine the matter is before court it is your advocate who has to discuss with the opposite advocate on such issues.

In the current situation there is no  guidelines for such cases   with timeline.

Once the RP is into  the action he will proceed as per law.

Section 12 (2) of the Code provides that RP shall file an application to the Adjudicating Authority to extend the period of the corporate insolvency resolution process beyond one hundred and eighty days, if instructed to do so by a resolution passed at a meeting of the committee of creditors by a vote of sixty-six percent of the voting shares.

RP should ensure that the resolution approving the extension by Committee of Creditors should have been passed before the expiry of 180 days, although the application for extension may be filed after 180 days.

1. Just don't reply to anything. 

2. Cannot be confirmed. 

3. Nothing have to be vacated

Dear Sir/Madam,

You are suggested that your advocate may talk to his counterpart of opponent and you may also approach by way of SMS, WhatsApp, letters so that you may produce the same in the court (NCLT) as proof as and when needed. The RP deputation will take place, if no compromise possible. On appointment of IRP, the directors become ineffective and the company is taken over by the IRP and then by RP. 

Talk to ur advocate n say file case urgently

Your advocate can ask court to give orders for mediation between parties on next date of hearing so that matter can be solved amicably.

The matter can be settled through video conferencing. If not settled then online hearing can be done by the NCLT.

All this can be settled. The RP takes over and settles all the issues.