TMI Blog2020 (10) TMI 866X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 18(1)(f) of the IB Code. This Adjudicating Authority hereby directs the Respondent Bank to release the aforesaid amount of ₹ 65,02,500/- to the account of the Corporate Debtor and/or pool amount, if any, opened/ maintained by the RP for the purpose of CIRP along with the interest to complete the CIRP. However, Commissioner of Customs, Mumbai/Asst. Commissioner of Customs, may claim their dues as Operational Creditor and put the same before RP for consideration. Application disposed off. - I.A. No. 718 of 2019 in CP (IB) No. 157 of 2018 - - - Dated:- 28-2-2020 - Manorama Kumari, Member (J) And Chocklingram Thirunavukkarasu, Member (T) For the Appellant : Pranav Desai, Raghav Kakkar, Vidhi Thakkar, Arjun Sheth, D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Debtor at its first CoC meeting held on May 31, 2019. Accordingly RP vide an email dated May 28, 2019 informed the Respondent Bank about the commencement of CIRP against the Corporate Debtor. RP has come to know from the Balance sheet of the Corporate Debtor about Fixed Deposits (bearing Nos. Fixed Nos. 011943710000026, 011943710000059, 011945110001594, 01194511000195 011945110001596) amounting to ₹ 65,02,500/- along with accrued interest. Hence requested the Respondent Bank to confirm the amount as reflected in the balance sheet of Corporate Debtor. 2.2. The RP repeatedly requested the Respondent Bank, by way of personal visits, telephonic and email reminders to release the fixed deposits of the Corporate Debtor with accrued i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... toms, Mumbai binding themselves to fulfill such notified export obligations. And in turn, the Assistant Commissioner of Customs called upon the Corporate Debtor to furnish security in the form of the Bank Guarantee for the fulfillment of export obligations to be complied with by the Corporate Debtor under the said notification. Hence, Corporate Debtor have requested the Respondent Bank to furnish Bank Guarantee to the President of India through the Commissioner of Customs, Mumbai for the amount mentioned in the respective Bank Guarantees due and payable under the said bond already executed by the Corporate Debtor in favor of the Commissioner of Customs, Mumbai. 3.2 It is further submitted that Bank Guarantees issued by the Respondent Ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebtor has ownership rights as recorded in the balance sheet of the corporate debtor, or with information utility or the depository of securities or any other registry that records the ownership of assets including- (i) Assets over which the corporate debtor has ownership rights which may be located in a foreign country; (ii) Assets that may or may not be in possession of the corporate debtor; (iii) Tangible assets, whether movable or immovable; (iv) Intangible assets inc hiding intellectual property; (v) Securities including shares held in any subsidiary of the corporate debtor, financial instruments, insurance policies; (vi) Assets subject to the determination of ownership by a court or authority. Even the Hon'ble ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
