TMI Blog2020 (4) TMI 150X X X X Extracts X X X X X X X X Extracts X X X X ..... 2019 without hearing - HELD THAT:- There is nothing on the record to suggest that Mr.Rajesh Narang ('Appellant herein) was not present on that date though, plea has been taken by one of the 'Shareholder' Director of the Corporate Debtor that none appeared for the Corporate Debtor. Accordingly, such plea is rejected - On merit also, we find that the total amount sanctioned disbursed i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s.Durha Vitrak Private Limited' ('Corporate Debtor). The Adjudicating Authority ('National Company Law Tribunal), Principal Bench, New Delhi, by impugned order dated 08-11-2019 admitted the Application. 2. The main plea taken by the Appellant, Shareholder/Director of the 'Corporate Debtor' is that no opportunity was given to the Corporate Debtor to address arguments and impu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the same the alleged authorized signatory cannot be said to be authorized to initiate the present proceedings. (2) As per the Code the Petitioner has to file strictly as per the format prescribed under Rule 4 of the Bankruptcy rules but the Petitioner has failed to comply with said requirement and therefore the Petition is defective. (3) The Petitioner is alleged to have made the payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disbursed in various tranches from 26-3-2016 to 13-2-2017 by the Financial Creditor and default amount was of ₹ 39,97,98,092.27/- (Rupees Thirty-Nine Crores Ninety-Seven Lakhs Ninety Eight thousand Ninety Two Twenty Seven paisa). 6. The aforesaid fact is not under dispute. In any case, the default amount exceeds ₹ 1 Lakh. Even on merit, we find no ground to interfere with the impugn ..... X X X X Extracts X X X X X X X X Extracts X X X X
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