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2020 (12) TMI 1131 - Tri - Insolvency and BankruptcyPrayer to classify the Applicant as the Financial Creditor - Section 60 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- It is found that the Applicant has annexed the letter dated 30.11.2018 issued to AMW Motorworks Limited. Vide said letter, the Applicant demanded ₹ 10 Crores from AMW Motorworks Limited paid on 24.10.2007 through Cheques along with 18% interest per annum. The said letter was issued by Chief Operating Officer. Apart from that, no other document such as an agreement or any promissory note is annexed, so as to infer the date of disbursement of the loan - on comparison with the demand notice dated 30.11.2018 (at page no. 43 of the application) with that of the Ledger Account from the period 01.04.2007 to 31.03.2008 (at page no. 52 of the application), it is found that Cheque no. 001291 is of ₹ 4 Crores whereas the date of cheque clearance is of 25.10.2017 and for other two cheques, the clearance date is of 2007 when the Ledger Account is of the period 01.04.2007 to 31.03.2008. Hence, the document so filed by the Applicant is/ are contradictory to the statements made in the application, in as much as, the cheque which was issued in 2007, how it could be cleared in the year 2017. Under such circumstances, it is difficult to assess the bonafide of the Applicant. Furthermore, apart from these documents, Applicant has annexed the statement of account at page no. 53 of the application showing the period 2005 to 2014. However, on perusal of the said statement, it is found that it is originating from 16.11.2013 to 18.11.2013 only, which in our opinion is an irrelevant document which does not reflect the date of disbursement of loan amount - Evidently and admittedly, as per their own document in the application annexed at page no. 43, reflects the said amount is paid on 24.10.2007 through three cheques. To that effect, no agreement/ promissory note has been entered into. The claim is not free from iota of doubt. Accordingly, the instant application is rejected. However, with regard to the ₹ 5 Crores which is acknowledged by the Corporate Debtor maybe taken in to account by the IRP, as Claims other than Operational Creditor and Financial Creditor. Application dismissed.
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