TMI Blog2019 (11) TMI 1410X X X X Extracts X X X X X X X X Extracts X X X X ..... ting Authority and can be decided only by the Court of Criminal jurisdiction. Taking into consideration the imposition of the cost, the impugned order dated 20th September, 2019 is set aside so far it relates to the imposition of the cost of Rupees One Lakh - appeal disposed off. - Company Appeal (AT) (Insolvency) No. 1307 of 2019 - - - Dated:- 25-11-2019 - [Justice S.J. Mukhopadhaya] Chairperson, [Justice Bansi Lal Bhat] Member (Judicial) And [Justice Venugopal M.] Member (Judicial) For Appellant: Ms. Shreya Jain and Ms. Alexandra Celestine, Advocates For Respondent: Mr. Nikhil Kohli and Ms. Gunjan Tejwani, Advocates ORDER Learned counsel for the Appellant submits that the certified copy of the impugned order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further submits that the Adjudicating Authority failed to notice the aforesaid fact and has gone into the merit of the claim and counter-claim of the parties, which is not permissible. However, such submission is disputed by the learned counsel appearing on behalf of the Respondent. From the record we notice that the Corporate Debtor opposed the prayer and informs that in the earlier letter dated 1st October, 2018 the appellant was informed of its obligation to undertake equity investment in the respondent company in terms of the memorandum of understanding (MoU). No reply was received from the applicant in respect of the equity investment nor it has consented to the applicant for receiving the encashment of the cheques which wer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... letter of objections dated February 7, 2019 and February 14, 2019 to the Ld. Sole arbitrator, objecting to the existence of the purported MOU and the appointment of the Ld. Sole arbitrator in the arbitration proceedings. It was pointed out by FC that Mr. Devender Kumar Aggarwal who is the signatory to the purported MOU, purportedly on behalf of the FC along with other co-accused is facing criminal investigation in pursuance of a first information report registered with the Sector 40, Gurugram police station. The Adjudicating Authority noticed the aforesaid fact and came to the conclusion that the default as alleged cannot be determined in absence of any requisite document. The Adjudicating Authority also held that the fraud is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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