2019 (11) TMI 1410

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r dated 20th September, 2019 was received on 3rd October, 2019 and the appeal was preferred on 16th November, 2019.   Having heard Ms. Shreya Jain, learned counsel appearing on behalf of the Appellant and Ms. Gunjan Tejwani, learned counsel appearing on behalf of the Respondent and being satisfied with the grounds, the delay of 13 days in preferring the appeal is condoned.  I.A. No. 3767 of 2019 stands disposed of.  The Appellant preferred an application under Section 7 of the 'Insolvency and Bankruptcy Code, 2016 (for short, 'the I&B Code') for initiation of 'corporate insolvency resolution process' against 'M/s. Good Marketing and Sales Private Limited' (Corporate Debtor).  The Adjudicating Authority (Nat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....or receiving the encashment of the cheques which were provided along with 'memorandum of understanding'.  The 'Corporate Debtor' requested the Appellant to provide written consent for encashment within a period of 15 days but the appellant instead of adhering to the terms of 'memorandum of understanding' recalled notice dated 2nd January, 2019 to the 'Corporate Debtor' which wrongly claimed an amount of Rs. 5,10,41,072/- from the Respondent Company.  The Appellant filed a rejoinder dated 29th March, 2019 in which the following plea was taken : "6. The Petitioner has filed a rejoinder dated 29.03.2019 in  which following things had been stated: • The FC denies the existence of the purported loan agreem....