2018 (10) TMI 1665

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... not be looked into by the Adjudicating Authority while deciding the application under Section 7 or by this Appellate Tribunal, till the Corporate Debtor alleges the same and raise the objection under Section 65 of the Code. No such plea has been taken by the Corporate Debtor before the Adjudicating Authority alleging fraud on the part of the Financial Creditor for initiation of proceedings under S .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the Code ) preferred by Respondent Asset Reconstruction Company (India) Ltd. has been admitted and Corporate Insolvency Resolution Process initiated against M/s White Metals Limited (Corporate Debtor). 2. Learned Senior Counsel appearing on behalf of the Appellant submitted that two Assignments were made in favour of th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... not maintainable. 4. We have heard the learned Counsel appearing on behalf of the parties and perused the records. 5. We find that there are two Assignment Agreements, one dated 21st July, 2014 and the other dated 17th April, 2015 executed in favour of the Respondent. For initiation of Corporate Insolvency Resolution Process, the Respondent Financial Creditor relied on the Assignment Agree .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X