TMI Blog2018 (4) TMI 601X X X X Extracts X X X X X X X X Extracts X X X X ..... the case in hand. So also, corporate debtor has admitted the interest amount accrued at the rate 12% per annum on the principal sum. The statement of account also shows that the corporate debtor has deducted TDS. The corporate debtor denied the entire transaction disputing the authenticity of the documents evidently executed and signed by the corporate debtor. The above said factors proves that the attempt of the corporate debtor is an attempt to evade payment which is found liable to pay to the financial creditors. Corporate debtors said attempt is found unsuccessful. Despite demands, reminders made by the financial creditors the corporate debtor has failed to repay the debt outstanding in its name. This petition for initiation of Corp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. The Corporate Debtor Shree Ganesh Jewellery House (I) Ltd., Identification No. is L36911WB2002PLC095086. 4. The name and registration number of the proposed interim resolution professional is Mr. Manish Jain, Registration No. is IIB/IPA-001/IP- P00582/2017-18/11023 of No.S-8, Dharmatalla Area, 2, Ganesh Chandra Avenue, Kolkata - 700 013 email manishmahavir@gmail.com 5. The corporate debtor had availed credit facility by way of financial assistance from the (Applicant/Financial Creditor) Abhishek Stock Broking Services Pvt. Ltd. The applicant had granted credit facility of an overall limit of ₹ 22,00,000/- (Twenty-two lakhs) by way of transfer of funds through RTGS on 19/7/2014. The said loan was granted for a period of six ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efault is constituted of four different principal sums and part payment was made towards discharge of the debt due. A detailed computation of the account is annexed with the application and marked as Annexure B-2. 10. The particulars of financial debt in respect of four financial creditors are as follows:- Abhishek Stock Broking Services Pvt. Ltd. Total amount of debt granted is ₹ 22,00,000/- Date of disbursement on 19/7/2014 Narayan Finvest Pvt. Ltd. Total amount of debt granted is ₹ 85,00,000/- Date of disbursement on 12/6/2014, 24/6/2014 and 21/7/2014. Ayush Fiscal Pvt. Ltd. Total amo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... affidavit annexing certified copies of the bank statement as Annexure A. 15. The respondent in this case entered appearance through its one of the Directors for defending this case by submitting that this petition is not maintainable. The application is devoid of merits and as such, is an abuse of process of law. The application is coercive and made in an attempt to extract money from the respondent company by pressuring it to succumb money. The respondent is not liable to make payment and does not admit any liability as agreed by and between the parties. 16. The respondent further submits that the rate of interest claimed by the applicants are arbitrary and based on unsubstantiated documents. The claim of the applicants is exaggerate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce that financial creditors extended financial assistance in the form of Inter Corporate Deposits to the corporate debtor. The corporate debtor has duly acknowledged receipt of such Inter Corporate Deposits which were seen distributed through RTGS in the account of the corporate debtor. The corporate debtor has issued confirmation of accounts and thereby admitted the financial debts to be due and payable to the financial creditors in the case in hand. So also, corporate debtor has admitted the interest amount accrued at the rate 12% per annum on the principal sum. The statement of account also shows that the corporate debtor has deducted TDS. 22. The corporate debtor denied the entire transaction disputing the authenticity of the docume ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... il manishmahavir@gmail.com is appointed as Interim Resolution Professional. Moratorium under section 14 of Insolvency Bankruptcy Code shall apply. (a) The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; (b) Transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Financial Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
