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2018 (4) TMI 1806 - NATIONAL COMPANY LAW TRIBUNAL — CHENNAI BENCHMaintainability of application - Jurisdiction to English Courts - default of the respondent as recognized by decree of the English courts - respondent who is the guarantor of loan for principal borrower, herein did not repay the amount - HELD THAT:- It is a well-settled law that the courts need not go beyond a decree made in favour of a party and in this case the decree made by the hon'ble High Court of Justice, Queen's Bench Division, Commercial Court, London. Since the respondent failed to defend its case before hon'ble High Court of Justice, Queen's Bench Division, Commercial Court, London, now it cannot contend that the said order is not on merits. The case laws relied by learned counsel for the petitioner is in support of the clarification to the queries raised by the respondent. In view of all the submissions made by the parties and the observations made, the Tribunal concludes that the petitioner/financial creditor has made out a prima facie case under the IB Code, 2016. The petition is admitted as the petitioner has made out a prima facie case and also proved that there is a debt due payable by the principal borrower and there is a decree made against the respondent/guarantor. This Tribunal has no jurisdiction to enforce the foreign decree ; however there is no bar in it taking cognizance of the foreign decree - petition disposed off.
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