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2019 (10) TMI 1274 - Tri - Insolvency and BankruptcyPhysical disbursement actual transfer of loan - period from 5.04.2011 to 13.08.2018 - HELD THAT:- Prima facie it appears that the Bank has nothing much to add or to explain in this regard. Considering the impugned statement of account and especially considering an application under Section 75 of the Insolvency Code moved from the side of Corporate Debtor in which certain allegations are made, this Bench is of the considered view that during the entire loan process, due diligence was not carried out, So as to examine the correct position of Loan account for same be examined by the professional of this field. This Bench hereby appoints PWC “Mr. Gaganpreet Singh Puri Partner, Pricewater house Coopers Services LLP, Building No-10 C, 17th Floor, DLF Cybercity, Gurugram, Haryana-122002, Email Id- gagan.puri@pwc.com and Mobile No-9818756955” as Forensic Auditor to examine every aspect as alleged by the Corporate Debtor and submit an independent Report latest by 30.10.2019 - After the disbursement of ₹ 25 Crores, whether rest of the amount had been credited and gone out the Bank’s account to the account of the Corporate Debtor so as to be used freely for the purpose of project for which loan was granted.
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