TMI Blog2023 (4) TMI 172X X X X Extracts X X X X X X X X Extracts X X X X ..... Authority has rightly taken the view that no error has been committed by the Resolution Professional in reducing the amount of the claim of the Appellant. Appeal dismissed. - Company Appeal (AT) (Insolvency) No. 361 of 2023 - - - Dated:- 5-4-2023 - [ Justice Ashok Bhushan ] Chairperson And [ Barun Mitra ] Member ( Technical ) For the Appellant : Mr. PBA Srinivasan, Mr. Dhruv Parwal, Mr. V. Aravind, Ms. Srishti Bansal, Mr. Sumit Swami, Advocates ORDER Heard learned counsel for the Appellant. This Appeal has been filed against order dated 17.01.2023 by which application filed by the Appellant has been rejected. The Section 7 application was filed by the Appellant which was admitted vide order dated 18.02.2022. In pur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e purposes to be determining the voting percentage of the Applicant. It is not disputed that initially an amount of Rs. 1.3 crores were advanced as loan to the Corporate Debtor alongwith the certain other persons/entities. The dispute with regard to the said loan went into an arbitration and culminated into award dated 19.01.2018 the copy which has been attached with the reply file by the Respondent. The principle amount initially lent to the Corporate Debtor is mentioned as Rs. 1.3 crore. By way of this award the Corporate Debtor has been held liable to pay a sum of Rs. 1,35,35,770/- alongwith pending and future interest at the rate of 19% per annum from 16.08.2017 till realization. The award has not been challenged at any forum till date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... im of the Appellant is concerned, a copy of the Arbitral Award has been brought on the record by the Appellant at page 120 of the Appeal Paper Book, which was also filed with Section 7 application. The Arbitration Proceeding was initiated by the Appellant himself and the Sole Arbitrator passed award, which is to the following effect: In view of the above discussion, this tribunal hereby passes an Award in favour of the Claimant and against the Respondent/s to the following effect: 1. That the Respondents shall be jointly and severally liable to pay to the claimant a sum of Rs.1,35,35,777/- (Rupees One Crore Thirty Five Lakh Thirty Five Thousand Seven Hundred Seventy Seven Only) with pendentelite and future interest @ 19% per annu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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