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TMI Blog2018 (9) TMI 1846X X X X Extracts X X X X X X X X Extracts X X X X ..... lution Process - Corporate Debtor - Section 7 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The initiation of Corporate Insolvency Resolution Process cannot be annulled merely on the ground of pendency of a petition under Section 19 of The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 . In fact in terms of Section 14 of I B Code all such pending proceeding cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nst order dated 9th August, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench whereby the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for short I&B Code) preferred by 'JM Financial Asset Reconstruction Company Ltd.' (assignee of debts of Corporation Bank) has been admitted, order of moratorium has been passed and Interim Resolution ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yable. However, when we asked the counsel to file an addition affidavit signed by the Appellant making specific statement that they have not received any amount or amount received has already been paid and therefore there is no debt or there is no default, it is informed by the counsel for the Appellant that such affidavit cannot be filed by the Appellant as the Corporate Debtor had taken loan fro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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