2021 (6) TMI 316

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....mant Kumar Sarangi, Member (T) 1. The present application is being filed by Mr. Ashmeet Singh Bhatia, homebuyer in one of the companies of the Corporate Debtor, namely, M/s. Granite Gate Properties Pvt. Ltd., undergoing CIRP before this tribunal, C.P. (IB)-1248(PB) of 2018, under Section 60(1) read with Rule 11 of the Insolvency and Bankruptcy Code, 2016 ("Code") and National Company Law Tribunal Rules, 2016 seeking issuance of directions to the Respondent. 2. Under the said application the following reliefs have been prayed for :- a. "Allow the impleadment of the Applicant in the present Company Petition; b. Dismiss the present Company Petition, under Section 65 of the I & B Code, 2016, as it has been filed with mal....

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.....2019, 22.02.2019, 25.02.2019, 05.03.2019, 20.04.2019, 15.10.2019 and 01.12.2019, Mr. Surpeet Singh Suri had written to both Mr. Nirmal and Mr. Vidur, enquiring them about the various transactions in their group companies have been attached. 5. It is further stated that, inter alia, the email dated 15.10.2019, mentioned about a financial fraud of more than Rs. 202 crores, in the Bank Account No. 38164449254, of the Greenopolis Project belonging to a group company of the Three C Group, namely, Three C Shelter Pvt. Ltd., in which, along with others, even the Corporate Debtor, M/s. Three C Properties Pvt. Ltd. and the Financial Creditor/Applicant of this present petition, M/s. Sundram Consultants Pvt. Ltd. are also deeply involved. It is pe....

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.... by the same person/official, namely, Mr. Nitin Kumar Sinha, on behalf of the CD. d. That a casual look at the Statement of the Bank Account No. 36759100958, State Bank of India, Nehru Place Branch, New Delhi, from 01.05.2019 to 30.06.2020, of the Financial Creditor/Applicant, attached as Annexure P-8, (Pages 41 to 113), would show that his Bank Account has been used for money laundering and the Financial Creditor had entered into voluminous financial transactions with the various companies owned by Mr. Harkaran Singh Uppal son of Mr. Nirmal Singh, who is promoter director of the CD. e. That it is also pertinent to mention here that M/s. Three C Universal Developers Pvt. Ltd. was the first company of this Three C Group, wh....

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....s produced by the Applicant in support of its application, is of the view that the Applicant has not been able to clearly establish his relationship with the main Company Petition. 8. The Applicant in its prayer (b), prays to "Dismiss the present Company Petition, under Section 65 of the I & B Code, 2016..". However, on the bare reading of Section 65 of the I & B Code, 2016, its states as follows; "65. Fraudulent or malicious initiation of proceedings. (1) If, any person initiates the insolvency resolution process or liquidation proceedings fraudulently or with malicious intent for any purpose other than for the resolution of insolvency, or liquidation, as the case may be, the Adjudicating Authority may impose upon a su....