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TMI Blog2022 (10) TMI 573X X X X Extracts X X X X X X X X Extracts X X X X ..... ructure Private Limited is to set up I.T. Park does not make the disbursement made by Appellant to M/s ABW Infrastructure Ltd. as a Financial Debt against the Corporate Debtor. The disbursement against time value of money is against M/s ABW Infrastructure Ltd. and not against the Corporate Debtor. The order of District Magistrate attached the property under Section 4 of Haryana Protection of In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Appellant. This Appeal has been filed against the order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-III dated 09.06.2022 by which Section 7 Application filed by the Appellant has been rejected. Appellant filed Section 7 Application claiming Financial Debt, reliance was placed on an MOU entered between the Appellant and M/s ABW Infrastructure Ltd. (D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 7 Application made following observations:- We have heard the submissions made by the Counsels appearing for both sides and perused the records. Admittedly, the Memorandum of Undertaking was executed between M/s. ABW Infrastructure Limited and the present Applicant and the respondent was in no way connected to the MOU. There is no evidence on record to show that the money in question was in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ructure Private Limited, J-10/1, DLF City, Phase-II, M. G. Road, Guraon 122002 for setting up I.T. Park at village Sarai Anangpur, District Faridabad. 6. The mere fact that in Clause (A), as extracted above, M/s Dove Infrastructure Private Limited is to set up I.T. Park does not make the disbursement made by Appellant to M/s ABW Infrastructure Ltd. as a Financial Debt against the Corporate D ..... X X X X Extracts X X X X X X X X Extracts X X X X
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