2019 (8) TMI 1599

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....olvency & Bankruptcy<br>SUDHANSU JYOTI MUKHOPADHAYA&nbsp;J. (Chairperson)&nbsp;, A. I. S. CHEEMA&nbsp;J. (Judicial Member)&nbsp;and KANTHI NARAHARI&nbsp;(Technical Member) Ashish Kothari&nbsp; for the appellant. Dinkar Singh&nbsp; for the respondents. ORDER 1. The appellant-"Mr. Rajen Amrit Lal Parikh", director of "GPT Steel Industries Ltd." ("corporate debtor") has preferred this app....

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....as 1 (SC). It was further submitted that the Adjudicating Authority while admitting the application under section 7 has not appointed any "interim resolution professional". According to the learned counsel for the appellant, the application under section 7 was not complete. 3. However, while discussing the matter on the issue of limitation, learned counsel for the appellant sought some time ....

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.... admittedly the right to apply accrued to the appellant ("financial creditor") since December 1, 2016, i. e., the date when "I and B" Code came into force, we hold that the application under section 7 of the "I and B" Code is well within the time and maintainable. 6. So far as the claim of the respondent is concerned, the Adjudicating Authority noticed that the "corporate debtor" admitted the d....

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....al." 7. The "corporate debtor" while borrowing the amount also mortgaged its immovable property on March 10, 2005. The corporate guarantee/personal guarantee was also given by the "corporate debtor" on March 5, 2005. 8. From the aforesaid facts, it is clear that there is a continuous cause of action. Further, we find that the "corporate debtor" by its letter dated June 23, 2016 also requeste....