9911796707
Advanced Search 
TMI Blog2021 (7) TMI 876X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Respondent in settling an amount of Rs. 8,57,000/- (Eight lakh Fifty-Seven Thousand Rupees only). The details of transactions leading to the filing of this application as averred by the Applicant are as follows: i. The applicant stated that the Respondent is a Building and Construction Company registered in Delhi. Further the applicant stated that an SMS regarding the new launching project of Respondent was received by him. That the applicant upon finding lucrative option of the investment invested in the project with the name of "Emerald Rivera". ii. The applicant submits that the Clause no. 3 of the Agreement cum Memorandum of understanding ref. no. ETH/ER/DL/04/12/2012-2013 states that there is commitment amount to be paid to I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubmitted that upon realizing that construction on the said project has not started a Legal Notice dated 25.11.2014 was delivered to the Respondent. Since no reply was received to the said notice the applicant filed a complaint bearing case no. 3016 of 2016 in the district court of Kamrup (Metro) at Guwahati under section 420, 406, 417, 34 of Indian Penal Code, 1860. Furthermore, the Judicial Magistrate First Class, Kamrup (Metro) on 28.01.2019 has issued "Warrant of arrest" against the Directors of Respondent Company i.e., Mr. Suresh Saini and Mr. Rajesh Saini. 2. The Tribunal issued notice to the Respondent through all modes, however no one has represented/Appeared on behalf of the Respondent. Hence, the Respondent vide order dated 07.01. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the Part 2 of Form 1 which has been filed by Financial Creditor that no date of default has been mentioned in the Form 1. Hence, on perusal of the application filed under section 7 of IBC, 2016, the date of default can be ascertained as 22.12.2014, the date on which the Corporate Debtor sent a mail to the financial Creditor accepting that the said project has been delayed and acknowledged the liability. Whereas, the financial Creditor has filed the present application under section 7 of IBC, 2016 on 21.11.2019. 6. Hence, applying the date of default criterion laid down by the Hon'ble Supreme Court, we find that the Present application filed under section 7 of the IBC, Code, 2016 fails the test of Limitation as far as the Code is co ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
