2019 (12) TMI 1488

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..... (Judicial) And Justice Venugopal M., Member (Judicial) For Appellant: Mr. Sanjeev Pathak, Advocate. For Respondent: None ORDER 'HDFC Bank Ltd.' moved application under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiation of Corporate Insolvency Resolution Process against 'M/s Bhawan Das Auto Finance Ltd.' (Corporate Debtor). The Adjudicating Authority (National Company Law Tri .....

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..... 1st March, 2017. Therein apart from the amount of Rs. 7,00,88,809.56/- the Arbitral Tribunal awarded interest @ 18% from the date of award till date of payment by the Respondent or realization thereof. Therefore, if the Appellant intends to rely on the award, we hold that there is no default and thereon application under Section 7 is not maintainable. 5. From plain reading of the application, we .....

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..... lication under Section 7 for execution of award, in said case it is to be held that the application was filed with malicious intent not for purpose of resolution of insolvency or liquidation. However, we are not giving such finding in case of the Bank and hold that the application under Section 7 was barred by limitation. 7. For the reasons aforesaid, while we condone the delay of 13 days in pref .....

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