2017 (11) TMI 1964

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....now being corrected in the manner, stated herein below. 2. In the order dated 26-10-2017 as aforesaid, there were some typographical mistakes in the name of the Financial Creditor as well as in the name of learned counsel appearing on behalf of the Financial Creditor which have been written as under: - Cause Title "Seri Infrastructure (P) Ltd.   ... Financial Creditor   -Versus-   Assam Company India Ltd.   ... Corporate Debtor" "For the Applicant/Financial Creditor:   "Mr. R. K. Banerjee, Sr. Advocate" The name of the Financial Creditor should have been written as "Srei Infrastructure Finance Ltd." Again, the name of the learned counsel for the Financial Creditor s....

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....interest at agreed rate ------- but also ------- with penal interest at the rate agreed to by the FC and principal debtor. In the teeth of such revelations, the CD is precluded from raising aforesaid plea in the present proceeding." 6. In Para 47 at page 7 of the Order, in the second line, the word "FC" be read as "principal borrower". The said Para, now, after replacing the word "FC" by the word "principal borrower" be read as under: - "47. In the present case, the FC has sufficiently established that an amount to the tune of Rs. 595,60,65,355.00 as on 11-08-2017 had fallen due from the side of the principal borrower and so also from CD. The FC has also established that a default thereto had occurred on 11.08.2017. That being t....

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...., the amount of arrear penal charges has by mistake been typed as arrear of penalty Rs. 1,27,83,715.00, instead, the same should have been typed as "arrear penal charges Rs. 493,85,10,906/"-. Now, the corrected Para 70 of the Order dated 26-10-2017 be read as under: - "70. Further, it is found from the Master Circular on Interest Rates on Advances issued by RBI that interest, charged by the Banks and other Financial Institutions, may have different colours and contours, such as, simple rate of interest, compound rate of interest, Floating Interest, Penal Interest etc. Therefore, the Master Circular on Interest Rates on Advances, further fortifies my conclusion that the amount charged as arrear penal charges, same being Rs. 493,85,1....