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TMI Blog2019 (9) TMI 1657X X X X Extracts X X X X X X X X Extracts X X X X ..... nterim Resolution Professional and there being no disciplinary proceedings pending against the proposed resolution professional, therefore the Application under sub-section (2) of Section 7 is taken as complete, accordingly this Bench hereby admits this Petition. Petition admitted - moratorium declared. - CP (IB) -3025/MB/2019 - - - Dated:- 25-9-2019 - Hon ble Smt. Suchitra Kanuparthi, Member (J) and Hon ble Shri V. Nallasenapathy, Member (T) For the Petitioner : Ms. Fatema Kachwalla a/w Mr. Jash Shah, Advocates i/b J. Sagar Associates For the Corporate Debtor : Ms. Suchitra Maharana, Legal Officer Per: V. Nallasenapathy, Member (T) ORDER 1. State Bank of India (hereinafter called Petitioner ) has sought ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crores and Rs. 735 crores respectively. 4. Subsequently, on 29.08.2016,the Petitioner sanctioned Rs. 565 crores and Rs. 635 crores as Rupee Loan Facility to RCOM and RITL respectively and entered into Rupee Loan Facilities Agreement, and the same was amended on 08.09.2016, a copy of the said facility agreement is enclosed to the petition. 5. The Corporate Debtor herein along with RITL and RCOM executed a Corporate Guarantee Deed on 03.03.2017 in favour of Axis Trustee Services Limited (ATSL), security trustee of the secured parties i.e. Rupee lenders, for a sum of Rs. 6750 crores (RCOM loan of Rs. 6015 crores + RTL loan of Rs. 735 crores). It is agreed under their Corporate Guarantee Deed that the Guarantors should be jointly, severa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2,245.06/- and Rs. 810,32,47,830.65/- was demanded from the Corporate Debtor herein in respect of the outstanding of RCOM and RTL respectively. 10. The Petitioner, on 15.04.2019, recalled the outstanding loan of Rs. 8460,91,24,419/- from RCOM and RTL. Further the Petitioner on 25.04.2019 recalled the outstanding loan of Rs. 1428,05,80,961/- from RCOM and RITL. 11. The counsel for the Petitioner also submits that RCOM, RITL and RTL are currently undergoing the CIRP as per the provisions of the Code. The Principal Borrowers and Guarantor herein who have executed the corporate Guarantee Deed in favour of Axis Trustee Services Limited are part of the RCOM Group engaged in similar lines of business with aligned business goals. 12. The c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; (c) 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 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act); (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the Corporate Debtor. (II) That the supply of essential goods or services to the Corporate Debtor, if continuing, shall not be terminated or suspended ..... X X X X Extracts X X X X X X X X Extracts X X X X
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