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TMI Blog2020 (12) TMI 1131X X X X Extracts X X X X X X X X Extracts X X X X ..... arison with the demand notice dated 30.11.2018 (at page no. 43 of the application) with that of the Ledger Account from the period 01.04.2007 to 31.03.2008 (at page no. 52 of the application), it is found that Cheque no. 001291 is of ₹ 4 Crores whereas the date of cheque clearance is of 25.10.2017 and for other two cheques, the clearance date is of 2007 when the Ledger Account is of the period 01.04.2007 to 31.03.2008. Hence, the document so filed by the Applicant is/ are contradictory to the statements made in the application, in as much as, the cheque which was issued in 2007, how it could be cleared in the year 2017. Under such circumstances, it is difficult to assess the bonafide of the Applicant. Furthermore, apart from these ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iled by Financial Creditor viz. Indian Overseas Bank, under section 7 of the 1B Code, seeking initiation of Corporate Insolvency Resolution Process (hereinafter referred as CIRP ) against the Corporate Debtor which was admitted on 01.09.2020 by this Adjudicating Authority. On admission, Interim Resolution Professional (hereinafter referred as IRP ) was appointed and acted in compliance of the provisions of the IB Code, calling for claims from all the creditors. 2.2 Pursuant to the said notice issued by the IRP, Applicant submitted its claim in Form-C by way of e-mail dated 16.09.2020 amounting to ₹ 16,35,25,444/- (Rupees Sixteen Crore Thirty Five Lakhs Twenty Five Thousand Four Hundred and Forty Four only) along with the requi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s rightly asked to file Form-F i.e. Claims other than Operational Creditor and Financial creditor. 5. Heard both the parties and gone through the record. On perusal of the record, it is found that the Applicant has annexed the letter dated 30.11.2018 issued to AMW Motorworks Limited. Vide said letter, the Applicant demanded ₹ 10 Crores from AMW Motorworks Limited paid on 24.10.2007 through Cheques along with 18% interest per annum. The said letter was issued by Chief Operating Officer. Apart from that, no other document such as an agreement or any promissory note is annexed, so as to infer the date of disbursement of the loan. However, at page 52 of the application, Ledger Account of AMW Motorworks is from the period 01.04.2007 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... document at page 57 of the application is Balance Confirmation dated 13.03.2015, wherein, it is reflected that Balance payable on Account of Inter-Corporate Advance (as per our books) as on 31.03.2012 is ₹ 10 Crores only. 9. Evidently and admittedly, as per their own document in the application annexed at page no. 43, reflects the said amount is paid on 24.10.2007 through three cheques as mentioned above. To that effect, no agreement/ promissory note has been entered into. 10. The Applicant also failed to file the Board Resolution of the Directors, so as to show, the amount claim was disbursed to the Corporate Debtor as Loan. That apart, none of the documents of the Corporate Debtor mentions the claim amount ₹ 16,35, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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