2020 (3) TMI 1315

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....orised representative of respondent No. 1, namely, Mr. Dhiraj Gupta is also present. Advocate Mr. Abhishek Parmar is present on behalf of the interim resolution professional (in short "IRP")-Mr. Ranjeet Kr. Verma. 3. Learned counsel for the IRP states that committee of creditors (in short the "CoC") has not yet been constituted in this matter. It is stated that the IRP has not received claims other than from the present operational creditor. 4. Learned counsel for the appellant and respondent No. 1 submits that they have settled the dispute between them and the corporate debtor has issued different post-dated cheques to settle the claim of the operational creditor. It is stated that the post-dated cheques have also been issued to the IRP to settle the fees of IRP including the CIRP cost. 5. Learned counsel present referred to the memorandum of understanding executed between the appellant and respondent No. 1 and state that respondent No. 1 wants to withdraw the application which was filed under section 9 of the Insolvency and Bankruptcy Code, 2016 (in short "IBC") before the Adjudicating Authority. 6. Learned counsel for the appellant states that the settlement has been....

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....nal Capital Territory of Delhi e-Stamp सत्यमेव जयते Certificate No. Certificate Issued Date Account Reference Unique Doc. Reference Purchased by IN-DL24134118945348S : 15-Feb-2020 01:20 PM : IMPACC (IV) di860303/ DELHI/DL-DLH SUBIN-DLDL86030357301283824314S :STRAIGHT EDGE CONTRACTS PVT LTD Article 58 Memorandum of Settlement Not Applicable (Zero) Description of Document Property Description : Consideration Price (Rs.) : 0 First Party Second Party Stamp Duty Paid By Stamp Duty Amount Rs.) : 100 : STRAIGHT EDGE CONTRACTS PVT LTD GUPTA JI ELECTRIC COMPANY STRAIGHT EDGE CONTRACTS PVT LTD (One Hundred only) * NOTARY Debenti Behurie Advocate 2020 GOV * NOMADIA OF Please write or type below this line. MEMORANDUM OF UNDERSTANDING This Memorandum of Understanding is made between M/s. Straight Edge Contracts Pvt. Ltd through itsdirector Mr. Rajesh Nagpal having registered For Straight Edge Contracts Pvt. Ltd. Statutory Alert: Rajesh Nagpal Authorised Signatory Ph.: 4121437, 2797596 ....

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....l, New Delhi. In the said appeal the Hon'ble National Company Law Appellate Tribunal, New Delhi vide its order dated 04.03.2020 issued notice but refused to grant any stay. 5. That now the First Party in discharge of their aforesaid liability of Principal amount of Rs. 1,46,49,934/- (One Crore Forty Six Lakh Forty Nine Thousand Nine Hundred Thirty Four Only) has agreed to make the payment of the sum of Rs.1,46,49,934/- (One Crore Forty Six Lakh Forty Nine Thousand Nine Hundred Thirty Four Only) towards the full and final settlement. 6. That the first party has agreed to pay the aforesaid sum of Rs.1,46,49,934/- (One Crore Forty Six Lakh Forty Nine Thousand Nine Hundred Thirty Four Only) within a period of Two months through eighteen post dated cheques. The following post-dated cheques have been prepared and will be handed over by the First party to the Second Party before the NCLAT at the time of the settlement of the case. The details of the aforesaid cheques are as follows: a. Cheque No. 002278 dated 01.04.2020 amounting to Rs. 5,00,000/- (Five Lakhs only) drawn on ICICI Bank Hargobind Enclave Branch, New Delhi- 10092. NOTARY ....

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.... only) drawn on ICICI Bank Hargobind Enclave Branch, New Delhi- 110092. o. Cheque No. 002292 dated 06.05.2020 amounting to Rs. 8,00,000/- (Eight Lakhs only) drawn on ICICI Bank Hargobind Enclave Branch, New Delhi- 110092. p. Cheque No. 002293 dated 06.05.2020 amounting to Rs. 8,00,000/- (Eight Lakhs only) drawn on ICICI Bank Hargobind Enclave Branch, New Delhi- 110092. q. Cheque No. 002294 dated 06.05.2020 amounting to Rs. 4,49,935/- (Four Lakhs Forty Nine Thousand Nine Hundred thirty Five only) drawn on Hele Bank Hargobind Enclave Branch, New Delhi-110092. OTARY Debajyoti Behurla Reg Advocate Cheque No. 002303 dated 06.05.2020 amounting to Rs. 10,00,000/- (Ten Lakhs only) drawn on ICICI Bank Hargobind Enclave Branch, New Delhi- â„– 110092. GOV 7. That the First Party has also agreed to make payment of the complete legal expenditure incurred by the second party in pursuing the litigation with relation to the present dispute before the Hon'ble National Company Law Tribunal, New Delhi and the Hon'ble National Company Law Appellate Tribunal, New Delhi and also make payment of the fee of the IRP and other For ....