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TMI Blog2025 (4) TMI 458X X X X Extracts X X X X X X X X Extracts X X X X ..... l Bench), admitting section 7 application filed by the Bank of Baroda (BoB). 2. Brief facts giving rise to this appeal are: i. BoB sanctioned a credit facility on 03.09.2024 to the corporate debtor, Our Company Infrastructure Developers Private Limited. ii. On 31.05.2019, corporate debtor defaulted in loan repayment. On 31.08.2019, the accounts of the corporate debtor was classified as NPA. iii. Notice under Section 13(2) of the SARFAESI Act was issued. iv. On 21.09.2019 default amount of Rs.28,79,55,488/- was outstanding as on 31.08.2019. v. BoB has also filed an O.A. No.568/2020 before the Debt Recovery Tribunal (DRT) Delhi. vi. 20.07.2019 Presiding Officer issued notice and passed a restraining order. vii. BoB filed Section 7 application on 28.09.2024, claiming total amount of default of Rs.49,14,07,632/-. viii. On 14.10.2024, adjudicating authority issued notice to the corporate debtor. ix. BoB filed an affidavit of service on 14.11.2024 stating that notice has been served on the corporate debtor. In spite of service of notice on the corporate debtor, no one appeared on behalf of the corporate debtor. x. Adjudicating Authority proceeded to hear the Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was well aware of the proceeding initiated against a corporate debtor and deliberately avoided to appear in the Court. Adjudicating authority after giving sufficient opportunity to the corporate debtor has proceeded to pass order finding debt and default. The financial creditor has also filed NeSL Report, proving the debt and default. 7. We have considered the submissions of counsel for the appellant and perused the records. 8. Adjudicating authority on 14.10.2024 issued an order, by paragraph 8 of the order notice was directed to be served in following modes. Paragraphs 8 & 9 of the order dated 14.10.2024, are as follows: "8. This Notice to be sent by the Petitioner/Financial Creditor under NCLT Rules, 2016 Form-5 through the following modes:- i. By way of an email to the registered email of. the Corporate Debtor available with the petitioner. ii. By way of an email to the CD email address registered with the MCA. iii. Service by way of Dasti within three days from today. iv. Proof of Service in any one of the above forms filed by way of an affidavit before the next date of hearing. 9. On receipt of this notice, the Corporate Debtor is directed to file the reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... djudicating authority again on 05.11.2024. Matter was again fixed for 26.11.2024 and second email on 14.11.2024 was also sent to the corporate debtor which is part of Annexure A-5, which email is as follows: "Re: CP IB 680 (PB) 2024_Bank of Baroda vs Our Co Infrastructure Developers Pvt Ltd_Notice of Hearing Me [email protected] Thu, 14 Nov 2024 4:41:14 PM + 0530 To ''ourcompanyinfra" [email protected] CC "info" [email protected] Dear Sir/Madam, Kind attention; Our Co Infrastructure Developers Private Limited through its Director; The above mentioned Petition (i.e. CP IB 680: (PB) 2024) under Section 7 of the Insolvency and Bankruptcy Code, 2016 was listed before the Hon'ble; Adjudicating:;Authority: NCLT Principal Bench on 14.10.2024 and 05.11.2024. The Hon'ble Adjudicating Authority directed service of notice on the Corporate Debtor indicating that reply should be filed within 7 days and that no further time would be granted for filing the reply. Take notice that the above matter is listed on 26.11.2024 and you are: hereby notified to file your reply within 7 days and appear before Court No. 1 NCLT Principal Bench on the said da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d for service in any of the modes. The Court permitted service of notice on email address of the corporate debtor available with the petitioner or by way of email to the corporate debtor registered with the MCA. Along with the section 7 application, the registered master data of the corporate debtor as registered in the MCA was also brought on record and email of the corporate debtor as registered in the master data of the MCA was utilised for service of notice to the corporate debtor. Admittedly, appellant himself has filed an affidavit of service on record, which clearly proves that service was affected by the email sent by them. In addition to the service of notice by email dated 24.10.2024, as per order issued by the adjudicating authority on 24.10.2024, subsequent email was also sent informing the next date fixed in the matter, i.e., 26.11.2024, which email we have already extracted above. 15. Learned counsel for the respondent during submissions have submitted that service was also affected physically through by the bank and report of agency who went to serve the notice has also been brought on record by affidavit of service dated 14.11.2024, which affidavit of service ..... X X X X Extracts X X X X X X X X Extracts X X X X
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