TaxTMI 
TaxTMI 
2017 (5) TMI 1634
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....;[hereinafter referred to as "the Rules"] seeking reliefs under Section 7(5)(a) and Section 13(1)(b) of the Code. 2. Asian Natural Resources (India) Limited is a Public Limited Company (hereinafter called as "Company"). It was incorporated on 13.8.1999 under the Companies Act, having its Registered Office at 102, Sundaram Complex,3, Gurmeet Nagar, Indore, Madhya Pradesh. The Petitioner filed fresh Certificate of Incorporation consequent upon change of name. It shows that M/S. Bhatia International Limited, which was originally incorporated on 30th August, 1999, has changed its name as 'Asian Natural Resources (India) Limited with effect from 23.8.2012. 3. The Aut....
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.... Company did not choose to repay the amounts. According to the Petitioner, the outstanding Principal amount is Rs. 36,66,03,057.44 ps. and interest and liquidated damages, and expenses to the tune of Rs. totalling Rs.38,31,06,714.44 ps. Petitioner Financial Creditor issued Dernand Notice dated 18th February, 2017 calling upon the Respondent Company to pay the aforesaid amount within a period of 15 days. The notice was duly served on the Respondent Company. Respondent Company, being a Corporate Guarantor, failed and neglected to pay the arnount due and payable by Bhatia Global Trading Ltd, in its capacity as 'Principal Borrower'. Petitioner Bank issued a Notice dated &....
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....ed. The claim is based on equitable mortgage and continuing guarantee and revival letters. Hence, it is within time. 7. From the material on record, it is clear that there is no disciplinary proceedings pending against the Interim Resolution Professional, proposed by the Financial Creditor. 8. This Petition was listed before this Adjudicating Authority on 12.5.2017. This Adjudicating Authority directed the Financial Creditor to issue Notice of hearing. Financial Creditor, in compliance with the directions of this Adjudicating Authority, issued Notice of date of hearing and filed proof of despatch. On 17.5.2017, i.e., on the date of hearing, none remained present on ....
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....ecree or order in any court of law, tribunal, arbitration panel or other authority; (b) transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; (c) any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. (i)....