9911796707
TMI Blog2024 (3) TMI 134X X X X Extracts X X X X X X X X Extracts X X X X ..... has been opposing the Application on untenable grounds and his only intent is to delay the proceedings. The sequence of the events indicate that the Corporate Debtor did not honour the settlement on basis of which Section 7 application was closed by the Adjudicating Authority by order dated 05.10.2020 and thereafter on one or other pretext has been delaying the proceedings. The Company Appeal is revived - appeal allowed. - [ Justice Ashok Bhushan ] Chairperson , [ Barun Mitra ] Member ( Technical ) And [ Arun Baroka ] Member ( Technical ) For the Appellant : Mr. M.P. Sahay, Ms. Awanitika, Mr. Sachin Kharb and Mr. Tushar Sharma, Advocates For the Respondents : Ms. Shivangi Ghosh and Mr. Rajendra Beniwal, Advocates for Akasa Finance Ltd. (A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that Section7 application has been dismissed as withdrawn has set aside the order dated 20.12.2019 and released the Corporate Debtor from rigours of CIRP. Order dated 11.02.2020 passed by this Tribunal is as follows: ORDER 11.02.2020 Heard Advocate Shri M.P. Sahay for the Appellant-Corporate Debtor. Heard Advocate Shri Rajendra Beniwal for Respondent No.1- Financial Creditor. The Advocate for Interim Resolution Professional was present on last date but is not present today. Counsel for Appellant submits at Bar true copy of Order passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Court-VI) on 5th February, 2020 in IB-2340/ND/2019 which reads as under:- ORDER Heard the submissions made by the counsel for the financ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndently through Board of Directors. 5. If the cheques issued are dishonoured or CIRP costs, or fees of IRP/RP are not paid, parties are at liberty to move this Tribunal to recall present Order. The Appeal is disposed of accordingly. (v) I.A. No.2316 of 2023 has been field by the Financial Creditor relying on the liberty granted that if the cheques issued are dishonoured or CIRP costs, or fees of IRP/RP are not paid, parties are at liberty to mover this Tribunal to recall the order. The case of the Applicant is that the Corporate Debtor has tendered 12 post-dated cheques starting from 05.03.2020. It is stated in the application that not a single cheque out of 12 cheques was honoured, which statement has been made in Para 6 of the application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I.A. No.2316 of 2023 dated 06.09.2023. In the reply affidavit filed by the Appellant there is no denial to the statement made in the application that 12 cheques given by the Corporate Debtor has not been dishonoured. The Appellant, however, in the reply has stated about appeal filed before the Hon ble Supreme Court being Civil Appeal No.5896 of 2022 and has opposed the application. 2. We have heard learned counsel for the Applicant as well as learned counsel appearing for the Respondent to the Application (Appellant herein). 3. After having heard learned counsel for the parties we are satisfied that the Financial Creditor is entitle to revive the Company Appeal (AT) (Ins.) No.152 of 2020 in view of the liberty granted by this Tribunal itse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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