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TMI Blog2019 (10) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... ial Creditor (State Bank of India) authorities, thereby, the Corporate Debtor needs time to remain waiting for answer from the Creditor Bank (State Bank of India) - this Bench being satisfied that the Financial Creditor has proved the existence of debt of ₹ 135,65,99,352 and default as on 31.03.2019 against this Corporate Debtor. The Financial Creditor has also filed consent letter in form-2 given by the Insolvency Resolution Professional, In view of the same, we hereby admit this Company Petition. Petition admitted - moratorium declared. - IBA/578/2019 - - - Dated:- 24-7-2019 - MR B.S.V. PRAKASH KUMAR, MEMBER (JUDICIAL) AND MR S. VIJAYARAGHAVAN, MEMBER (TECHNICAL) For The Financial Creditor : Shri Ganesh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om the date of filing of the O.A. the till date of the realization along with costs. 4. Since the Corporate Debtor has not even repaid the amount ordered to be recovered from the debtor even after lapse of almost two years, the Financial Creditor has now filed this Company Petition u/s. 7 of the Code on 10.04.2019 for initiation of CERP against the Corporate Debtor for making a claim of ₹ 135,65,99,352 as on 31.03.2019. 5. As against this claim, the Corporate Debtor has stated that they have already submitted One Time Settlement proposal to the Financial Creditor (State Bank of India) authorities, thereby, the Corporate Debtor needs time to remain waiting for answer from the Creditor Bank (State Bank of I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edings against the corporate debtor including execution of any judgment, decree or order in any Court of law, Tribunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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