2020 (12) TMI 1131

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ant as the Financial Creditor apart from the other prayers. 2.  The facts of the case are herein under: 2.1 CP(IB) No. 184 of 2018 was filed by Financial Creditor viz. Indian Overseas Bank, under section 7 of the 1B Code, seeking initiation of Corporate Insolvency Resolution Process (hereinafter referred as "CIRP") against the Corporate Debtor which was admitted on 01.09.2020 by this Adjudicating Authority. On admission, Interim Resolution Professional (hereinafter referred as "IRP") was appointed and acted in compliance of the provisions of the IB Code, calling for claims from all the creditors. 2.2 Pursuant to the said notice issued by the IRP, Applicant submitted its claim in Form-C by way of e-mail dated ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....panies Act, 2013. 4.  However, the Books of Account of the Corporate Debtor shows the amount of Rs. 5 Crores only. Based on the document on record, Respondent has rightly asked to file Form-F i.e. Claims other than Operational Creditor and Financial creditor. 5.  Heard both the parties and gone through the record. On perusal of the record, it is found that the Applicant has annexed the letter dated 30.11.2018 issued to AMW Motorworks Limited. Vide said letter, the Applicant demanded Rs. 10 Crores from AMW Motorworks Limited paid on 24.10.2007 through Cheques along with 18% interest per annum. The said letter was issued by Chief Operating Officer. Apart from that, no other document such as an agreement or any....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d statement, it is found that it is originating from 16.11.2013 to 18.11.2013 only, which in our opinion is an irrelevant document which does not reflect the date of disbursement of loan amount. 8.  Another document at page 57 of the application is Balance Confirmation dated 13.03.2015, wherein, it is reflected that Balance payable on Account of Inter-Corporate Advance (as per our books) as on 31.03.2012 is Rs. 10 Crores only. 9.  Evidently and admittedly, as per their own document in the application annexed at page no. 43, reflects the said amount is paid on 24.10.2007 through three cheques as mentioned above. To that effect, no agreement/ promissory note has been entered into. 10.  The Applicant a....