9911796707
TMI Blog2022 (1) TMI 572X X X X Extracts X X X X X X X X Extracts X X X X ..... n a period of four weeks thereof. However, it is seen that the Corporate Debtor was also not able to adhere to the said timeline even after expiry of a period of one year. All these facts would go on to show that the Corporate Debtor has violated the terms of the Settlement Agreement as entered into between the parties dated 25.07.2017. In the circumstances, this Tribunal deem it fit to restore the main Company Petition viz. TCP/141/2017 on the file of this Tribunal. Accordingly, TCP/141/2017 stands revived and being listed for hearing on 08.02.2022. Let the same be listed along with TCP/141/2017 on 08.02.2022. - MA/258/2018 in TCP/141/2017 and MA/259/2018 in TCP/141/2017 - - - Dated:- 3-1-2022 - Sucharitha R., Member (J) And Samee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tition came to be transferred before this Tribunal and renumbered as TCP/141/2017. During the pendency of the aforesaid Company Petition, it is averred in the Application that the Corporate Debtor has approached the Operational Creditor seeking settlement of disputes between the parties and after several attempts the parties have arrived at a consensus and accordingly a Settlement Agreement dated 25.07.2017 was entered into between the Operational Creditor and the Corporate Debtor. 4. It was submitted by the Learned Counsel for the Operational Creditor that as per the Settlement Agreement, the Corporate Debtor is bound to pay an amount of 65 Million Japanese Yen to the Operational Creditor and furthermore the Corporate Debtor was require ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stances, Learned Counsel for the Operational Creditor sought to revive the TCP/141/2017 on the file of this Tribunal. 7. Heard the submissions made by the Learned Counsel for the Operational Creditor. It is seen from the records that the present Application for revival of the main Company Petition was filed before this Tribunal on 10.07.2018 and from thereon the Corporate Debtor has sought numerous adjournments by paying a paltry sum towards the dues of the Operational Creditor in each and every hearing. 8. Further, it is seen from the Order of this Tribunal dated 17.09.2020, a last opportunity was given to the Corporate Debtor to pay a sum of 17.5 million Japanese Yen to the Operational Creditor within a period of four weeks thereof. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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