2019 (10) TMI 593

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Cheema, Member (Judicial) And Justice Kanthi Narahari, Member (Technical) For The Appellant : Mr. Sukumar Pattjoshi, Senior Advocate with Mr. Mayank Bughani, Advocate For The Respondent : Mr. Himanshu Bhushan and Mr. Ankit Jain, Advocates, Mr. Gautam Singhal, Advocate And Mr. R. Wali, Advocate for PNB ORDER The Appellant - Shareholder/Director of 'M/s. White Metals Limited' (Corporate Debtor .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e Respondent. For initiation of Corporate Insolvency Resolution Process, the Respondent - Financial Creditor relied on the Assignment Agreement dated 17th April, 2015. The Corporate Debtor has not disputed the fact that there is a debt due in law and fact and they defaulted in paying the dues. It is not the case of the Corporate Debtor that there is no debt in law or in fact. 6. The question wh .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... pellant thereafter filed an application under Section 65 of the I&B Code alleging that the insolvency resolution process was fraudulent or with malicious intent other than for the resolution of insolvency and the Adjudicating Authority by impugned order dated 15th January, 2019 rejected such allegation. Learned counsel appearing on behalf of the appellant again relied upon the Assignment Agreement .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X