2021 (10) TMI 765

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....Seaview Private Limited (hereinafter called as respondent 'Corporate Debtor') for initiation of incorporate insolvency resolution process against the corporate debtor for an unresolved debt of 15,16,58,028/- 2. The brief facts of the application are as follows:- a. The present petition has been filed by the petitioner for claiming amount of above Rs. 15 crores under 4 cancellation agreement. b. In or about February 2013 the petitioner had approached options to buy four flats in the project of the Corporate Debtor situated at HBS Marine View at Charni Road, Mumbai 400004. For this the petitioner had entered into 4 options agreements and paid a total sum of Rs. 6,32,59,562/- As per the said options Agreements if the petitioner ch....

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.... petition is nothing but 3rd round of litigation. The petitioner previously filed two company petitions bearing No. 47/2019 and 2229/2019 which were withdrawn by the petitioner on account of entering into consent terms between the parties and also on account of paying upfront amount as per consent terms. 5. As stated above the corporate debtor did not chose to file any reply since January 2020. Thus, there is no dispute with regard to the existence of debt and default and the debt is also within limitation. The claim of the petitioner remained unchallenged. Since the company petition satisfies all the legal requirements, this bench did not find any grounds warranting the rejection of the above company petition. The petitioner also filed fo....

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....nt of Security Interest Act, 2002; the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the Corporate Debtor. e. That the supply of essential goods or services to the Corporate Debtor, if continuing, shall not be terminated or suspended or interrupted during moratorium period. f. That the provisions of sub-section (1) of Section 14 shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. g. That the order of moratorium shall have effect from the date of pronouncement of this order till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under s....