9911796707
TMI Blog2019 (11) TMI 1537X X X X Extracts X X X X X X X X Extracts X X X X ..... n up during 2nd session, there is no representation on behalf of the Petitioner. However, Counsel for the Corporate Debtor is present. In the circumstances, this Tribunal was forced to proceed with the hearing in the absence of the Petitioner. 2. During the course of submissions made by Counsel for the Corporate Debtor, it was pointed out by Counsel for the Corporate Debtor that pursuance to the notice of the Petitioner herein sent to the Corporate Debtor, the petitioner does not have locus to come before this Tribunal, in view of the assignment of debt of the Corporate Debtor which has been granted to a 3rd party. Learned Counsel for the Corporate Debtor brings to the notice of this Tribunal, the typed set of documents filed by the Corpor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or, under the circumstances questions about the maintainability of the Petition prima facie on the competency of the Petitioner to file this Petition in view of the assignment of debt being made. Considering the definition of a 'Financial Creditor' as given under Section 5(7) of the I&B Code, 2016 discloses that Financial Creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred. It is evident from the above definition of the Financial Creditor that either the person to whom the financial debt is owed as defined under Section 5(8) of the provisions of the I&B Code, 2016 or in the case an assignment legally assigned, then such person can approach this T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the claim is time barred as filed before this Tribunal by the Petitioner. 7. Counsel for the Corporate Debtor also brings to the notice of this Tribunal that eventhough an Arbitration award was passed by the Learned Arbitrator in relation to the claim filed out of the above mortgage deed and the debts reflected thereunder in favour of the Petitioner, however, in relation to the arbitration award passed by the Learned Arbitrator, Learned Counsel for the Corporate Debtor brings to the notice of this Tribunal that an Application under Section 34 of the Arbitration Conciliation Act, 1996 has been preferred before the Hon'ble High Court of Madras which has also granted a stay of the award vide its order dated 02.03.2017. In view of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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