2017 (9) TMI 1608

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....sha 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 impugned order, the application prefer....

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....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 note, other relevant documents,  incl....

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....ise. 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 'financial creditor', namely, Mr. Chinmoy ....