9911796707
TMI Blog2021 (1) TMI 933X X X X Extracts X X X X X X X X Extracts X X X X ..... Corporate Debtor. - C. P. (IB) No. 316/BB/2019 - - - Dated:- 26-8-2020 - Rajeswara Rao Vittanala, Member (J) And Ashutosh Chandra, Member (T) For the Appellant : Ricab Chand For the Respondents : Vivek B N, Advocates ORDER Ashutosh Chandra, Member (T) 1. C.P.(IB)No.316/BB/2019 is filed by Adani Global FZE ('the Petitioner/Operational Creditor'), U/s.9 of the IBC, 2016, R/w Rule 6 of I B (AAA) Rules, 2016, by inter-alia seeking to initiate Corporate Insolvency Resolution Process (CIRP) in respect of NTC Exim India Pvt. Ltd.('the Respondent/Corporate Debtor') on the ground that it has committed default for an amount of USD 97,698.90/- (USD Ninety Seven Thousand Six Hundred Ninety Eight and Ninety C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al creditor has agreed to receive a total amount of USD 97,698/- (USD Ninety Seven Thousand Six Hundred and Ninety Eight only) and full and final settlement. 3. By virtue of the above settlement arrived at between the Operational Creditor and the Corporate Debtor, the Corporate Debtor has paid an upfront amount of USD 4,429/- on 25th August 2020 (Date) by way of Telegraphic Transfer/Telex Transfer to the Operational Creditor and the Operational Creditor duly acknowledges the receipt of the same. In so far as the payment of remaining amount of USD 93,269/-, the Corporate Debtor has undertaken to pay the same in fifteen installments of USD 6,215 each, spread across 8 months by way of Telegraphic Transfer. For the sake of brevity, the sam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. In case of default of the payments by the Corporate Debtor as per the schedule mentioned above, the Operational Creditor undertakes to grant 8 days from the date of default of payment, enabling the Corporate Debtor to make the payment of defaulted amount. 5. The Corporate Debtor apart from having undertaken to make the upfront payment of USD 4,429, to the Operational Creditor as stated above, will also hand over the cheques as set-out in the table below, drawn in the name of Adani Enterprises Limited . Mr. Vimal Bhandari will have the custody of the aforementioned cheques as an Escrow Agent . Mr. Vimal Bhandari, will release the cheque to the Operational Creditor/Adani Enterprises Ltd. In case there is a default in payment by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. 000214 23.07.2021 4,33,300 10. 000215 08.08.2021 4,33,300 11. 000216 23.08.2021 4,33,300 12. 000217 08.09.2021 4,33,300 13. 000218 23.09.2021 4,33,300 14. 000219 08.10.2021 4,33,300 15. 000220 23.10.2021 4, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
