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TMI Blog2019 (10) TMI 1361X X X X Extracts X X X X X X X X Extracts X X X X ..... , in view of the non-payment of the debt by the partnership firm, one of the partner who is a Corporate Debtor herein is jointly and severally liable to pay the debt - HELD THAT:- Similar issue decided in judgement of the Hon'ble NCLAT in the case of Gammon India Ltd. Versus Neelkanth Mansions and Infrastructure Pvt. Ltd. [ 2019 (2) TMI 1116 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) alleging that Corporate Debtor committed default on 27.04.2019 in making payment of ₹ 21,31,036/- which is inclusive of interest @ 12% p.a., by invoking the provisions of Sections 8 9 of I B Code (hereinafter called Code ) read with Rule 6 of Insolvency Bankruptcy (Application to Adjudicating Authority) Rules, 2016. 2. The petition reveals that the Corporate Debtor is a partner of a partn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 7 of the Code and also barred under Section 137 of the Limitation Act as held by the Hon'ble Supreme Court in the case of B. K. Education Services Pvt. Ltd. v. Parag Gupta Associates (MANU/SC/1160/2018) (b) The Petitioner has failed to produce any document to show that any financial debt is owed to the Petitioner from the Corporate Debtor. (c) The alleged debt i.e. ₹ 11,50,000/- as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tition is filed against the Corporate Debtor. 6. The counsel for the Corporate Debtor submitted that the money is owed by partnership firm and not by the Corporate Debtor, the Corporate Debtor is performing well and no CIRP can be initiated against the Corporate Debtor. Further there is no express formal agreement between the parties, which empowers the parties to enforce such loan extended to a p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the application under Section 9 of the 'I B Code' against one of the partners of such partnership firm will not be maintainable. 8. Even though the above judgement is under Section 9 of the Code the ratio laid down therein will also apply to the present petition under Section 7 of the Code. 9. In view of the above discussions, the petition is dismissed with liberty to the Petitioner to pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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