2017 (9) TMI 1608

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....or the Appellant: Alok Dhir, Ms Varsha Banerjee, Mr. Milan Singh Negi and Mr Kunal Godhwani, Advocates. JUDGMENT SUDHANSU JYOTI MUKHOPADHAYA. J. This appeal has been preferred by Appellant ('corporate debtor') & another against order dated 12th April, 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, in Company Petition No. 186/2017. By the ....

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.... and perused the order. We agree with the Adjudicating Authority that proceeding under section 138 of the Negotiable Instrument Act was initiated  due to dishonour of cheque and the same cannot be a ground to  reject the application  under Section 7 of the I&B Code, there being  debt and default. The Appellant while referring to letters, money  receipts, demand promissory ....

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....fault in making re-payment  does not arise. However, in absence of any such 'agreement' , no such plea be  accepted. 5.  Ld. Counsel of the appellants submitted that Form 1 was not in accordance with the provisions of Section 7 and Rules framed thereunder. But such submission cannot be accepted as we find that application under Section 7 was filed by authorized representative of ....