9911796707
TMI Blog2021 (7) TMI 852X X X X Extracts X X X X X X X X Extracts X X X X ..... n. Since the Respondent did not file its Reply/objection to the present IB petition, it goes uncontested. Hence the Debts which are more than Rs. One Lakh stands admitted and the default in making repayment of loan goes undisputed. Therefore the present IB petition is found to be filed in conformity with the provisions of the Code and rules, regulations made thereunder. Hence is found complete and CIRP can be triggered in respect of present Respondent. For the aforesaid reasons, the present IB petition deserves for Admission. On perusal of the documents annexed with the IB petition it is found that the Respondent/Corporate Debtor has committed default in repayment of debt. The disbursement of loan amount is substantiated by the Statem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd the Account was classified as NPA on 30.06.2012. (b) The Bank of India being the Assignor of debt to the Petitioner herein vide Sanction Letter dated 03.11.2009 granted the following Credit Facilities to the Corporate Debtor:- Sr. No Types of Facilities Amount (Rs.) 1 Term Loan 260000000/- 2 Cash Credit 100000000/- Total 360000000/- (c) The Corporate Debtor entered into a Hypothecation Loan Agreement with Bank of India on 30.03.2011. (d) The Corporate Debtor entered into a Term ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndent. (m) The Corporate Debtor has acknowledged its Debt on the Acknowledgement Letters dated 15.06.2012 which is signed by Mr. D.G. Salunkhe and one Mr. Uday Bhosale. (n) Bank of India issued a notice under section 13(2) of the Securitisation Act, 2002 to the Corporate Debtor. (o) The Petitioner has also produced the CIBIL Report. (p) The Petitioner through its Advocate issued recall notices to the Corporate Debtor dated 04.03.2014 for claiming the Loan amount of the Respondent however, nothing fructified. (q) The above debt got assigned to the Financial Creditor vide Assignment Agreement dated 26.03.2014. (r) The Respondent vide its letter dated 27.05.2015 sent a proposal for settlement of dues with the Peti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clearly demonstrated by placing a copy of the Assignment Agreement dated 26.03.2014 that there was an Agreement between the Petitioner and the Respondent for a total sum of ₹ 36,00,00,000/-. 8. A perusal of the submission filed before this Bench clearly brings out that the loan was disbursed in two tranches of ₹ 26,00,00,000/- as Term Loan and ₹ 10,00,00,000/- as Cash Credit facilities. Therefore, it is confirmed that the total amount of ₹ 36,00,00,000/- was disbursed to the Respondent. 9. The Petitioner submits that the amount disbursed to the Respondent is corroborated in the Bank of India, Ichalkaranji Branch by the Petitioner in accordance with the Bankers Books Evidence Act, 1891. 10. Consequent to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14. Further the Petitioner has proposed the name of Mr. Sameer Kakar, Registration No. IBBI/IPA-001/IP-P00218/2017-18/10418, as the Interim Resolution Professional of the Respondent. He has filed his written communication by accepting the proposed Assignment in prescribed format/s as per provision made under the IBC and rules, regulations made thereunder and also declare that there is no pending disciplinary proceedings against him before IBBL The same is accepted and taken on record. 15. On perusal of the documents annexed with the IB petition it is found that the Respondent/Corporate Debtor has committed default in repayment of debt. The disbursement of loan amount is substantiated by the Statement of accounts of the Petitioner. The L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d of moratorium:- (i) The supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during the moratorium period; (ii) That the provisions of sub-section (1) of section 14 of the IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any sectoral regulator; (c) The moratorium shall have effect from the date of this order till the completion of the CIRP or until this Adjudicating Authority approves the Resolution Plan under sub-section (1) of section 31 of the IBC or passes an order for Liquidation of Respondent under section 33 of the IBC, as the case maybe. (d) Public announcement of the CIRP shall ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
