TaxTMI 
TaxTMI 
2021 (4) TMI 582
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.....B Road, Guwahati, 781001, District- Kamrup (M), Assam. 2. The Petitioner Financial Creditor (FC), namely Indian Bank,(Erstwhile Allahabad Bank) was incorporated on 24.04.1865 with identification number AACCA8464F; registered address at Corporate Office at 254-260, Abbai Shanmugham Salai, Royattah, Chennai-600014". Branch Office at S.R.C.B Road, Guwahati, 781001, District- Kamrup (M), Assam. 3. The Respondent Corporate Debtor (CD) Company, namely Cleanopolis Energy Systems India Pvt. Ltd. was incorporated on 05.10.2009 with CIN: U40104AS2009PTC009278; GST No: 18AADCC8147N1Z5 and PAN No: AADCC8147N. 4. The authorized share capital of the Respondent (CD) Company is Rs. 4,60,00,000.00 (Rupees Four Crores and Sixty Lacs only) divided into 46,00,000 (Forty Six Lacs) Equity Shares of Rs. 10/- (Rupees Ten Only) each. The issued, subscribed and paid up share capital of the Company is Rs. 3,86,69,600.00 (Rupees Three Crore Eighty Six lacs Sixty Nine Thousand and six hundred) comprising of 38,66,960 nos. of Equity Shares of Rs. 10/- (Rupees Ten only) each. The Registered Office of the Corporate Debtor Company is situated at: 51/343, Borpokhiajhar, Halleshwar, P.O: Depota, Sonitpur, ....
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....Security: i. All the part and parcel of the land in the name of M/S Cleanopolis Energy Systems India Private Limited acquired vide Sale Deed No. 286 dated 30.03.2011, (measuring 4 Bighas 4 Kathas 7 Lechas, covered by Dag No. 354, K.P. Patta No. 153), at Village- Borpokiajhar, Mauza- Haleswar, District- Sonitpur, Assam, bounded by North: Land of M/S Cleanopolis Energy Systems India Pvt. Ltd., South: Land of Sri Gadadhar Koch, East: Drain and West: land of Netra Hazarika. ii. All the part and parcel of the land in the name of M/S. Cleanopolis Energy Systems India Private Limited acquired vide Sale Deed No. 913 dated 03.06.2010, (measuring 03 Bighas 3 Katha 6 Lechas, covered by Dag no. 341, Patta No. 107 (O)/51 (N) and measuring 4 Bighas 1 Katha 2 Lechas covered by Dag No. 343, Periodic Patta No. 77 old/29 New) at Village-Borpokiajhar, Mauza- Haleswar, Dist- Sonitpur, Assam, bounded by North: Land of Sri Bhola Saikia, South: Land of Sri Gopal Baruah, Sri Dul Baruah and Sri Indra Saikia, East: PWD Road, West: Drain. iii. All the part and parcel of the flat in the name of S/o. Late Abdul Majit, S/O Late Abdul Majid, acquired vide Sale Deed No. 8570 dated 11.08....
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....ent dated 21.04.2014 97-112 9. Annexure-9 Term Loan Agreement dated 27.01.2015 113-122 10. Annexure-10 Limit Pronote dated 28.03.2013 123 11. Annexure-11 Limit Pronote dated 19.04.2014 124 12. Annexure-12 Limit Pronote dated 19.04.2014 125 13. Annexure-13 Undertaking dated 19.04.2014 126 14. Annexure-14 Limit Pronote dated 21.05.2014 127 15. Annexure-15 Limit Pronote dated 14.07.2014 128 16. Annexure-16 Limit Pronote dated 27.01.2015 129 17. Annexure-17 Limit Pronote dated 27.01.2015 130 18. Annexure-18 General Letter of Hypothecation 21.04.2014 131-139 19. Annexure-19 Guarantee Letter dated 25.03.2013 140-143 20. Annexure-20 Guarantee Letter dated 19.04.2014 144-148 21. Annexure-21 S....
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....2017 230 43. Annexure-43 Letter from the borrower dated 27.02.2018 231-233 44. Annexure-44 SARFAESI Notice u/s. 13(2) dated/-.03.2018 234-236 45. Annexure-45 SARFAESI Notice u/s. 13(2) dated 31.03.2018 237-239 46. Annexure-46 Possession Notice u/s. 13(2) dated 21.08.2018 240-241 47. Annexure-47 Possession Notice u/s. 13(4) dated 21.08.2018 242-243 48. Annexure-48 Statement of A/C in TL No. 50149791057 244-258 49. Annexure-49 Statement of A/C in TL No. 50201046842 259-271 50. Annexure-50 Statement of A/C in TL No. 50261528496 272-277 51. Annexure-51 Statement of A/C in TL No. 50201081399 278-289 52. Annexure-52 Certificate of banker's book of evidence Act dated 18.12.2020 290 53. Annexure-54 Copy of the letter dated 12.10.2020 291 54. &....
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....ate of mortgage of the property is on 02-04-2013, SARFAESI proceeding has been initiated by the Financial Creditor and notice dated has been served on the CD. 1.5 It is settled legal position that the pendency of SARFAESI proceeding or other dispute does not prevent a Financial Creditor to trigger the C.I.R.P, because the nature of remedy being sought for under the provisions of the I.B Code is " Remedy in Rem" in respect of the CD. 1.6 The Financial creditor had sanctioned a total limit of Rs. 7,43,15,000.00 (Rupees Seven Crore Forty Three Lakhs and Fifteen Thousand only.) to the CD. The FC has claimed an amount of Rs. 11,88,32,383.00 (Rupees Eleven Crores Eighty Eight Lakhs Thirty Two Thousand Tree Hundred and Eighty Three only) which includes interest of Rs. 4,45,17,338.00 up to 01.01.2020. 1.7 The Respondent Company has violated the terms and conditions of the sanction letters and as such also made the accounts irregular, consequence thereof the said accounts were classified as Non Performing Asset w.e.f. 30.03.2018. 1.8 The Financial Creditor has issued Demand Notice dated 06.01.2020 in respect of unpaid debts, due from the CD i.e. M/s. Clea....
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....ssets and Enforcement of Security Interest Act, 2002; (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. II. The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated or suspended or interrupted during moratorium period. III. The provisions of sub-section (1) shall not apply to-(a) such transactions, agreements or other arrangements as may be notified by the Central Government in consultation with any financial sector regulator or any other authority; b) a surety in a contract of guarantee to a corporate debtor. IV. The order of moratorium shall have effect from the date of this order till the completion of the corporate insolvency resolution process. 5. This Adjudicating Authority hereby appoints as proposed, Mr. Amit Pareek, having Insolvency Professional Registration No. - IBBI/IPA-002/IP-N00413/2017-18/11205, Email ID: [email protected], Address; 4th Floor, K.C. Choudhary Road, Ram Prasad Complex, Chatribari, Guwahati-)1, Kamrup (M), Assam, as an Interim - Resolution Professional (IRP). The IRP is further directed to make p....