TaxTMI 
TaxTMI 
2020 (4) TMI 314
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....ules') by M/s Amritvani Exim Private Limited claiming to be 'financial creditor' (for brevity 'Applicant') has filed this application, through its authorised representative Mr. Chandan Tripathi authorized by the board resolution dated 31.05.2019, with a prayer for initiation of Corporate Insolvency Resolution Process in respect of respondent company, M/s. Ajanta Offset Packaging Ltd. (for brevity 'Respondent'). 2. The Applicant, M/s. Amritvani Exim Pvt. Ltd. was incorporated on 17.05.1989 as public limited company incorporated under the Companies Act, 1956, having CIN U17292WB1989PTC046896. The registered office of the applicant company is situated at 21-B, Gurusaday Road, Kolkata 700019. 3. The Corporate Debto....
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....d the following documents in support of its claim of loan and credit facilities disbursed to the Corporate Debtor: (a) Copy of RTGS request letter dated 12.09.2017 issued by the Financial Creditor to its banker, namely, Canara Bank for disbursement of Rs. 1,00,00,000/- (Rupees One Crore), to the Corporate Debtor's bank account. (b) Copy of money receipt issued by the Corporate Debtor evidencing receipt of loan disbursement. (c) Copy of letter dated 08.01.2018 sent by the Corporate Debtor to the Financial Creditor for renewal of the loan and extension of maturity date. (d) Copy of letter dated 12.04.2019 sent by the Financial Creditor to the Corporate Debtor seeking confirmation of accounts for the period 2017-18 and 2018-19 in r....
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....hty) became due and payable by the Corporate Debtor to the Applicant being the part principal loan amount, as interest due and tax deducted but not credited to the financial creditors by the Corporate Debtor. 9. The Corporate Debtor has filed its reply, in its reply it has raised technical objections, which hold no water in the present application. Also, as per the submissions made by the Ld counsel of the Corporate Debtor, already recorded in the order dated 13.12.2019, the Corporate Debtor has accepted its liability towards the Financial Creditor. 10. Having heard learned counsels for the parties we are of the considered view that the Financial Creditor has succeeded to making out a case for triggering the Corporate Insolvency Resolutio....
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....ayana Guddeti, address at Plot No. 23, 1st Floor, Durganagar Colony, Punjagutta, West Marredpally, Telangana- 500082, and having registration No. IBBI/IPA-001/IP-P00632/2017-18/11086, and email id [email protected] and mobile No. 9246341705. A written communication sent by him in terms of Rule 9(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 has also been placed on record. There is a declaration made by him that no disciplinary proceedings are pending against him in Insolvency and Bankruptcy Board of India or ICAI. In addition, further necessary disclosures have been made by Mr. Satya Narayana Guddeti as per the requirement of the IBBI Regulations. Accordingly, he satisfies the requirement of sec....