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TMI Blog2018 (1) TMI 1602X X X X Extracts X X X X X X X X Extracts X X X X ..... ed and duly disbursed to the Corporate Debtor but there is non-payment of Debt on the part of the Corporate Debtor - Further, the Debtor has itself filed an Application U/s. 10 of the Code wherein admittedly the Debtor recognises the Applicant herein as the Financial Creditor of the Debtor and also that there is Default in the repayment of Debt from the Debtor's side. Hence. Default has been established by the Debtor only. Petition admitted - moratorium declared. - CP No. 1368/IB/NCLT/MB/MAH/2017 - - - Dated:- 1-1-2018 - Hon'ble M.K. Shrawat, Member (J) And Hon ble Bhaskara Pantula Mohan, Member (J) For the Applicant: Mr. Uday Kulkarni Authorised Representative for the Financial Creditor/Applicant. For the Deb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e scrutiny, amount of ₹ 5.25.00,000/- on 08.03.2014. b) It is further submitted that, for the said Loan certain properties are mortgaged with the Applicant. details of which are hereby annexed with the Application. c) It is further submitted that, the Debtor has also issued Promissory Note dated 13.03.2014 in favour of Applicant which is annexed with this Application. d) It is also submitted that. the accounts of the Debtor were classified as Non Performing Assets as per the guidelines of the RBI. in respect of Mortgaged Loan Account. The said default is in continues till date. e) It is also submitted that, the Charge U/s. 132 of the Companies Act. 2013 is also registered with the ROC on the name of Debtor. f) It is f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Code wherein admittedly the Debtor recognises the Applicant herein as the Financial Creditor of the Debtor and also that there is Default in the repayment of Debt from the Debtor's side. Hence. Default has been established by the Debtor only. It may not be out of place to mention that vide a separate order the said Application of this very Corporate Debtor was held as non-maintainable since the present Application U/s. 7 of the Code deserves Admission. c) As a consequence, after the lapse of opportunity to reply and keeping admitted facts in mind that the Applicant had not received the outstanding Debt from the Debtor and that the formalities as prescribed under the Code have been completed by the Applicant we are of the con ..... X X X X Extracts X X X X X X X X Extracts X X X X
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