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TMI Blog2021 (9) TMI 492X X X X Extracts X X X X X X X X Extracts X X X X ..... 5-8-2021 - M.B. Gosavi, Member (J) And Veera Brahma Rao Arekapudi, Member (T) For the Appellant : Vanteru Priyanka Reddy and Mrudula, Advocates For the Respondents : Sourabh Agarwal, Advocate ORDER 1. Bhagyanagar Investments and Trading (P.) Ltd. (hereinafter referred as Petitioner/Financial Creditor) was incorporated under Companies Act, 1956 on 25/01/2000, having its registered office as mentioned in the cause title. 2. M/s. BRS Enterprises and Trading Limited (hereinafter referred to Respondent/Corporate Debtor) was incorporated on 03/03/2011, having its registered office as mentioned in the cause title. 3. The present petition is filed by the Financial Creditor under Section 7 of Insolvency and Bankruptcy Cod ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 1,46,29,931/- (Rupees One Crore Forty Six Lakhs Twenty Nine Thousand Nine Hundred Thirty One Only) consisting of Principal amount of ₹ 99,86,301/- (Rupees Ninety Nine Lakhs Eighty Six Thousand Three Hundred One Only) and interest @ 18% from 01/10/2017 to 30/04/2020 amounting ₹ 46,43,630/- (Rupees Forty Six Lakhs Forty Three Thousand Six Hundred Thirty Only). The loan agreement is annexed with the petition from page No. 31-33. 6. Counter dated 14/12/2020 6.1. The Corporate Debtor is a Public Limited Company incorporated under the Companies Act, 1956 and it is in the business of steel. It is stated that both parties entered into a loan agreement on 01/07/2017 agreeing to repay the amount in 8 quarterly instalme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal, arbitration panel or other authority; Transferring, encumbering, alienating or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; any action to foreclose, recover or enforce any security interest created by the Corporate Debtor in respect of its property including any action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); the recovery of any property by an owner or lessor where such property is occupied by or in possession of the corporate Debtor; B. Notwithstanding anything contained in any other law for the time being in force, a license, permit, registration, quota, concession, clearances or a simil ..... X X X X Extracts X X X X X X X X Extracts X X X X
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