9911796707
TMI Blog2018 (6) TMI 852X X X X Extracts X X X X X X X X Extracts X X X X ..... ent - Held that:- 1st Respondent - flat buyer accepts that the total amount has been paid back by the Appellant. The terms of settlement have been brought on record. Learned Counsel for the 1st Respondent also failed to show that the 1st Respondent had informed one month in advance from the date of the agreement, to the ‘Corporate Debtor’ that he intended to continue with the booking/holding of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... This appeal has been preferred by Mr. Atul Mittal, Director of APS Buildtech Pvt. Ltd. ( Corporate Debtor ) against an order dated 09.02.2018 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi in (IB) 19(ND) 2018 whereby and whereunder the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as I B Code ) preferred by Respon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... after the expiry of the lock in period from the date of execution of this MOU or to sell the said flats prior to expiry of the one year period (directly) in the market or to continue and retain the same till completion of the project after making the balance payment under the flexi plan. AND WHEREAS the Parties agree that in the event the Second Party chooses the option of assured return, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent opted for assured return within one month and thereby the agreement was not given effect in its letter and spirit. Without discussing the aforesaid issue and on mere presumption the 1st Respondent has been treated as Financial Creditor . 4. It is further submitted that the total amount as was due to the 1st Respondent flat buyer has already been paid back. 5. Learned Counsel appeari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid the total dues, we direct the Adjudicating Authority to close the proceeding. 7. In effect, order(s) passed by the Adjudicating Authority appointing Interim Resolution Professional , declaring moratorium, freezing of account and all other order(s) passed by the Adjudicating Authority pursuant to impugned order and action, taken by the Interim Resolution Professional, including the advert ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
