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2021 (1) TMI 571 - Tri - Insolvency and BankruptcyDirection to Respondent to admit the claim of the applicant as Financial Creditor - direction to not to conduct any meeting in absence of the applicant - seeking declaration that any meeting of Committee of Creditors convened by the Respondent, in absence of the applicant herein as illegal and void apart from other prayer - Section13(1)(b) read with Section 15 of the Code and Regulations - HELD THAT:- It is a matter of record that the loan was not reflected in the Income Tax record of the Corporate Debtor that apart the RP has also raised objection with regard to the invalid agreement. In view of the fact that the stamp paper was issued in 2014 and the agreement was entered on 25.01.2017. Maharashtra and Gujarat are the two states which have provisions stating that if stamp is not used or surrendered back within 6 months of the date of issue, then they will be treated as expired. Section 52B(b) of the Maharashtra Stamp Act and Section 52 C of Bombay Stamp (Gujarat Amendment) Act, 2016 states that if any Stamp have been purchased and it is neither used nor any allowances are claimed on it within the period of six months, it will be treated as invalid - Admittedly, the agreement was entered in the State of Maharashtra. On perusal of the Non-Judicial paper (page 106 of the application), it is found that the same was issued on 2014 and the agreement was executed on 25.01.2017. So, in view of the Maharashtra Stamp Act, the said agreement is invalid. Application dismissed.
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