2019 (10) TMI 964

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..... al) And Justice Member (Technical) For The Appellant : Mr. M.A. Chinnasamy, Mr. V. Senthil Kumar and Mr. C. Rupavathy, Advocates For The Respondents : Mr. P.V. Dinesh, Mr. Ashwini Kumar Singh and Mr. R.S. Lakshman, Advocates for 'Resolution Professional AndMr. Santosh Kumar and Mr. Amit Kumar Dhal, Advocates ORDER This appeal has been preferred by 'R. Arumugasamy', Managing Director of 'M/s. .....

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..... y has failed to consider that the 'Corporate Debtor' had made the payment. However, it is not disputed that there is a 'part default' which is much more than Rupees One Lakh ( i.e. Rs. 9.5 Crores) and the 'Corporate Debtor' has failed to pay. Apart from the fact that there is no merit in this appeal, it is informed by the learned counsel appearing on behalf of the 'Resolution Professional' that th .....

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..... to the 'Resolution Professional'. It will be open to the 'Resolution Professional' to move appropriate application before the Adjudicating Authority including the application for initiation of action under Chapter VII of Part II of the 'I&B Code'. The appeal is dismissed with aforesaid liberty to the 'Resolution Professional' with costs of Rupees One Lakh, which is to be paid by the Appellant to .....

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