9911796707
TMI Blog2017 (9) TMI 676X X X X Extracts X X X X X X X X Extracts X X X X ..... d above. It is further submitted in the instant application being CA No.06/C-3/2017 that a prayer has been made to restore the petition to its original position which had been dismissed for non-prosecution by this Tribunal vide order dated 6.7.2017. The applicant further states that the insolvency application was filed on 27.6.2017 and thereafter even though enquiries were made with the Registry on 28.6.2017 as well as on 30.6.2017, no specific date of posting was forth coming. However, the applicant submits that on 6.7.2017 when again enquiries were made, it was found that the matter had been listed on 5.7.2017 and re-notified to 6.7.2017 and on the said date due to non-appearance of applicant, the insolvency application had been dismissed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tate Bank of India being the Financial Creditor for unleashing the Corporate Insolvency Resolution Process against the Corporate Debtor on 27.6.2017. The amount which is clamed as per the insolvency application filed by the Financial Creditor is stated to be in a sum of Rs. 63,53,44,632.63/-. It is also evident from the amount claimed that it is quite substantial sum which the Financial Creditor despite repeated notices as well as approaching other forums have not be in a position to recover and this ultimately had made the Financial Creditor Bank to seek and avail the provisions of IBC, 2016 by approaching this Tribunal bringing to light the insolvency of Corporate Debtor. However, a Financial Creditor and also being the petitioner, handli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y itself within a period of 14 days. However, keeping in view the circumstances and the plea made by the applicant in the application as well as from the date of first posting on 5.7.2017, 14 days period has not expired and also taking into consideration that the applicant bank has acted promptly in filing the application for restoration that too within the said period of 14 days, even taking into consideration the date of presentation, being 27.07.2017, we allow this application and the insolvency application in IBC No. 189/2017 stands restored to its original state, subject however to payment of costs in a sum of Rs. 25,000/- to Prime Minister's National Relief Fund within ten days from the date of this order. List the main C.P. on 11 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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