TMI Blog2020 (1) TMI 1388X X X X Extracts X X X X X X X X Extracts X X X X ..... avit has been filed by the Bank which also produced the cover by which the letter, which is typed out copy of email dated 2nd May, 2016, was despatched by Mr. M M Ramachandran under his signatures from Dubai on 16th May, 2016 and received by the Bank on 25th May, 2016. The Original letter is also produced before us, therefore, we hold that the email dated 2nd May, 2016 is genuine. The Appellant ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arag Maini, Mr. Abhimanyu Chopra, Mr. Amit Srivastava and Ms. Mehak Khurana, Advocates for R-1. ORDER Pursuant to application under Section 7 filed by South Indian Bank Ltd. (Financial Creditor) by impugned order dated 19th November, 2019, the Adjudicating Authority (National Company Law Tribunal), Kochi Bench, Kochi initiated Corporate Insolvency Resolution Process against M/s Atlas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... take advantage of Section 18 of the Limitation Act, 1963. 4. Email dated 2nd May, 2016, which was also sent by the Appellant and undated letter received by the Bank on 30th May, 2016 shows that the Appellant acknowledged the dues and intimated that he has taken ₹ 220 Crores and the outstanding amount subsequently rose to ₹ 250 Crores with interest. In the end of it, it was informed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed, learned counsel for the Appellant submits that the Appellant was in jail in Dubai for having defaulted to pay creditors there and was under travel restrictions. It shows that he is a habitual defaulter. However, it is not clear how he has sworn affidavit in India. 7. From the record we also find that Bank has enough records to support that there is a default and therefore, the Adjudicating ..... X X X X Extracts X X X X X X X X Extracts X X X X
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