2017 (12) TMI 1451

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.... Singh For The Appellant : Mr. Basav Prabhu S. Patel, Senior Advocate with Mr. Shailesh Madiyal and Mr. Mrigank Prabhakar, Shri Geet and Ms. Shivani Srivastava, Advocates JUDGMENT SUDHANSU JYOTI MUKHOPADHAYA, J This appeal has been preferred by Appellant- Sobha Limited ('Operational Creditor') against the order dated 29th July, 2017 passed by Adjudicating Authority (National Company La....

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....evelopment work at its club at Baner, Pune, known as 'Pan Card Club Ltd', for a contract price of Rs. 10,81,31,099/-. Thereafter, further agreements were entered into between the parties on 18th December 2013, 18th March 2013, 30th April 2013, 19th June 2013 and 23rd September, 2013 for the projects at Baner, Pune and Durgapur, West Bengal. Since construction work had been taken up, the 'Operation....

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....t the 'Operational Creditor' initially issued notice dated 25th January, 2017 under sub-section (1) of Section 8 of the 'I&B Code' on the 'Corporate Debtor' demanding payment of Rs. 6,25,42,007.04/- as due on 19th January, 2017. It followed by an application under Section 9. However, as the Appellant-'Operational Creditor' failed to enclose a financial certificate, the 'Operational Creditor' withd....

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....I&B Code'. 8. It is desirable to state that apart from aforesaid ground recorded in the impugned order, the Adjudicating Authority also noticed the activities of the 'Corporate Debtor'. 9. Learned Counsel appearing on behalf of the Appellant- 'Operational Creditor' submitted that the 'Corporate Debtor' having failed to pay the dues for the work carried out, the Adjudicating Authority cannot ....