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TMI Blog2019 (8) TMI 914X X X X Extracts X X X X X X X X Extracts X X X X ..... ount for consideration of time value of money in favour of borrower, Mr. Davender Singh and not to the builder. Therefore, the Adjudicating Authority has rightly held that Rudra Buildwell Projects Pvt Ltd is not the corporate debtor of the appellant and the application under Section 7 of I B Code is not maintainable. Appeal dismissed. - COMPANY APPEAL(AT) (INSOLVENCY) NO.172 OF 2019 - - - Dated:- 14-5-2019 - Mr S. J. Mukhopadhaya, Chairperson, Mr A. I. S. Cheema, Member (Judicial) And Mr Kanthi Narahari, Member (Technical) For The Appellant : Mr. Sumesh Dhawan with Ms Vatsala Kak, Advocates For The Respondent : Mr. P. K. Sachdeva, Advocate JUDGEMENT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2018 and another sum of ₹ 63,470/- vide cheque dated 31st May, 2018. It was alleged that the borrowers and the corporate debtor have failed to maintain the financial discipline and have defaulted in the payment of the Pre-Equated Monthly Instalment interest/Equated Monthly Instalment in terms of loan agreement and tripartite agreement. The Adjudicating Authority taking into consideration the aforesaid fact held that the application filed under Section 7 of I B Code is not maintainable against M/s Rudra Buildwell Projects Private Ltd, the said respondent having not taken loan from the appellant. 4. From the record and the agreement dated 6th April, 2015, we find that one Mr Davendra Singh son of Shri Rajendra Singh, R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... against the payment of interest; b) Any amount raised by acceptance under any acceptance credit facility or its de-materialised equivalent; c) Any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument; d) The amount of any liability in respect of any lease or hire purchase contract which is deemed as a finance or capital lease under the Indian Accounting Standards or such other accounting standards as may be prescribed; e) Receivables sold or discounted other than any receivables sold on non-recourse basis; f) Any amount raised under any other transaction, includin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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