2019 (10) TMI 1274

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....chnical) ORDER 1. The Learned Representatives for both sides are present. 2. When the matter was called from the side of the Bank a recently briefed Learned Counsel appeared along with lawyers having due authorization to represent the matter on 18.09.2019 i.e on the last occasion after detailed discussion and on examination of the Bank statements as submitted by the Bank ,a query has been....

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....he impugned statement of account and especially considering an application under Section 75 of the Insolvency Code moved from the side of Corporate Debtor in which certain allegations are made, this Bench is of the considered view that during the entire loan process, due diligence was not carried out, So as to examine the correct position of Loan account for same be examined by the professional of....

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.... as to be used freely for the purpose of project for which loan was granted. (b) The Auditor shall examine whether the loan allegedly granted after the disbursement of Rs. 25 Crores has been transferred to Escrow account was merely an internal adjustment in the account of the Bank and not meant for the purpose of use of Corporate Debtor. Therefore, each information of each entry is requir....