9911796707
TMI Blog2019 (5) TMI 329X X X X Extracts X X X X X X X X Extracts X X X X ..... ocess against the Corporate Debtor on the ground that it has defaulted repaying an amount of Rs. 147,89,38,608.49 as on 21.12.2018 as against the loans availed by the Corporate Debtor. 2. On perusal of the record, it appears that since 2013, the Corporate Debtor availed credit facilities for an amount of Rs. 91,76,98,358 under the head of "Term Loan-I" and Rs. 42,23,07,534 under the head of "Term Loan-II" in aggregate, it comes to Rs. 134,00,05,892 (rupees One Hundred and Thirty Four Crores Five Thousand Eight Hundred Ninety Two only) to the Corporate Debtor. 3. To support this claim, the Creditor Bank filed dates and events disclosing existence of debt and occurrence of default, which are as follows: Sl. No DATES EVENTS 1. 27.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sent notice to the Corporate Debtor at the registered office address. The proof of the same is also placed on file. Thereafter, as per the direction of this Bench, the Creditor Bank has also sent private notice to the Registered Office of the Corporate Debtor on 07.02.2019 for their appearance and reply but it was returned with an endorsement "Refused". Copy of the notice and track delivery report is placed on record along with an affidavit. 6. It appears that the Corporate Debtor is deliberately avoiding causing appearance in the matter before this Adjudicating Authority. The Service of notice on the Corporate Debtor is held sufficient and opportunities were given vide orders dated 06.02.2019 and 15.02.2019 but they failed to appear befo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) 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 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by a owner or lessor where such property is occupied by or in the possession of the corporate debtor. II. The supply of essential goods or services of the Corporate Debtor shall not be terminated or suspended or interrupted during moratorium period. III. That the provisions of Sub-section (1) of Section 14 of IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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