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TMI Blog2020 (1) TMI 1388X X X X Extracts X X X X X X X X Extracts X X X X ..... mitation under Section 7 - default enclosed in terms of Section 7(3)(b) or not - HELD THAT:- The Appellant denied the said email and letter on the ground that it is forged. An additional affidavit has been filed by the Bank which also produced the cover by which the letter, which is typed out copy of email dated 2nd May, 2016, was despatched by Mr. M M Ramachandran under his signatures from Dubai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al) For Appellant: Present but appearance not marked. For Respondents: Mr. Krishnendu Dutta, Mr. Parag Maini, Mr. Abhimanyu Chopra, Mr. Amit Srivastava and Ms. Mehak Khurana, Advocates for R-1. ORDER Pursuant to application under Section 7 filed by 'South Indian Bank Ltd.' (Financial Creditor) by impugned order dated 19th November, 2019, the Adjudicating Authority (National Company Law Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lant has acknowledged the dues as on 30th May, 2016 and therefore the Bank is entitled to take advantage of Section 18 of the Limitation Act, 1963. 4. Email dated 2nd May, 2016, which was also sent by the Appellant and undated letter received by the Bank on 30th May, 2016 shows that the Appellant acknowledged the dues and intimated that he has taken ₹ 220 Crores and the outstanding amount s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nuine. The Appellant has taken wrong plea that it is forged. 6. When asked, learned counsel for the Appellant submits that the Appellant was in jail in Dubai for having defaulted to pay creditors there and was under travel restrictions. It shows that he is a habitual defaulter. However, it is not clear how he has sworn affidavit in India. 7. From the record we also find that Bank has enough reco ..... X X X X Extracts X X X X X X X X Extracts X X X X
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