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TMI Blog2021 (7) TMI 1355X X X X Extracts X X X X X X X X Extracts X X X X ..... against Neptune Developers Limited (hereinafter called "Corporate Debtor") alleging that the Corporate debtor committed default in making payment to the Financial Creditor. This petition has been filed by invoking the provisions of Section 7 Insolvency and bankruptcy code (hereinafter called "Code") read with Rule 4 of Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016. 2. The present petition is filed before this Adjudicating Authority on the ground that the Corporate Debtor failed to make payment of a sum of Rs. 185,35,24,319/- (Principal amount 80,89,09,406/- plus Interest 104,46,14,913/-). 3. The brief facts of the case are as follows:- i. The Financial Creditor filed an application bearing no. 4086 dated 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osal vide their letter dated 17.06.2019. v. As on 13.08.2019, the Corporate Debtor has to pay to the Financial Creditor an amount of Rs. 185,35,24,319/- (Rupees One Hundred Eighty Five Crores Thirty Five Lakhs Twenty Four Thousand Three hundred and nineteen only). The Financial Creditor is filed the present petitioner under Section 7 of the code as the Corporate Debtor had defaulted in payment their dues to the financial creditor. Findings 1. The Corporate Debtor, except putting up appearance through Shri Akshay Patil, advocate even did not chose to file any reply in the above matter. The above Company Petition is nothing but a second round of litigation. The earlier company petition bearing no. 4086 of 2018 was withdrawn by the applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y upon communication of this Order. d. That this Bench hereby prohibits the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, 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 the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; the recovery of any property by an owner or les ..... X X X X Extracts X X X X X X X X Extracts X X X X
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