2020 (9) TMI 744

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....339/NCLT/MB/2017 C.P. (IB) No. 1339/NCLT/MB/2017 - -<br>Insolvency & Bankruptcy<br>Hon'ble Janab Mohammed Ajmal , Member ( Judicial ) And Hon'ble Shri V. Nallasenapathy , Member ( Technical ) For the Applicant : Advocate Pulkit Sharma i/b Advocate Pranali Gada For the Respondent : Advocate Vibhor Kapoor i/b Rajani Associates ORDER Per : V. Nallasenapathy, Member ( Technical ) 1. Thi....

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....e Insolvency Resolution Process was ordered against the Corporate Debtor by this Bench on 07/11/2017 and this Bench has passed an order for liquidation of the Corporate Debtor vide order dated 12/03/2018 in MA. No. 88/2018. 3. It is submitted that the Respondent's attempt to sell the property through public auction did not initially succeed in the public auctions held on 31/10/2018 and 05/03/20....

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....eposit to be paid by 03/02/2020; and b) the balance 75% of the bid amount to be paid by 04/04/2020 along with simple interest at the rate of 12% per annum for any payment made after 30 days of the letter of acceptance. 6. The Applicant submits that he has remitted sum of Rs. 7 Crores on 03/02/2020. It is submitted that the total payment as on date works out to Rs. 11.60 Crores which is....

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....s and also submitted that he would pay simple interest at the rate of 12% per annum as per the existing terms and conditions of the auction sale. Since the liquidator has not given any extension, the Applicant is before this Tribunal praying for the reliefs supra. 9. The Applicant further submits that he has been negotiating with the L&T Finance Ltd. for loan, for payment of this bid amount and....