2019 (11) TMI 1431

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....mber(Judicial) And (Justice Venugopal M) Member(Judicial) For Appellant: - Mr. Jaideep Dhillon and Ms. ShilpiChowdhary, Advocates. For Respondent: - Mr. Niki Kantawala and Ms. Sayli Petiwale, Advocates. ORDER The Appellant- 'SBF Pharma'- ('Operational Creditor') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('I&B Code" for short) for initiation of the 'Cor....

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....ent wanted to settle the matter and issued Demand Draft for Rs. 7,50,000/- towards the full and final payment. However, it was not accepted by the Appellant. 4. According to counsel for the Appellant, the Appellant has the right to get the interest over and above the principal amount. However, we are not inclined to accept such submissions. 5. Section 65 relates to 'fraudulent and malicious init....

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....initiates the Insolvency Resolution Process or Liquidation Proceedings fraudulently or with malicious intent for any purpose other than for the resolution of insolvency, or liquidation, such application is fit to be rejected. 7. In the present case, we find that the Respondent- 'Corporate Debtor' is not insolvent and viable and feasible to pay the claim amount. Only for recovery of the interest, ....