TaxTMI 
TaxTMI 
2021 (11) TMI 181
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..../03/KOB/2021. The brief facts of the case are as under:- 2. M/s. Thankam Cashew Factory is a proprietorship firm run by Mr. Jose Samuel. As part of the contract between M/S. Thankam Cashew Factory and the Corporate Debtor M/s. Royal International Trade and Allied Products Pvt. Ltd. in 2017 for purchase of Raw Cashew Nuts Crops the purchase money had to be paid in advance. When the supply was made by the Corporate Debtor there was a short-supply of 268.139MT for an amount of Rs. 4,10,22,661/- (Rupees Four Crores Ten lakhs Twenty Two Thousand Six Hundred and Sixty One Only). This short supply was acknowledged by, the Corporate Debtor and issued Cheque No. 10055498 dated 30.10.2017 for an amount of Rs. 2,93,26,058/- (Rupees Two Crores Ninety....
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....s regarding maintainability of the petition:- i. a proprietary concern is not included in the definition of the term person and, ii. a Power of Attorney Holder is not entitled to represent an Operational Creditor in these proceedings. 5. The Applicant in this IA states that there is merit in the contention raised by the Respondent/Corporate Debtor with regard to the question of maintainability. Hence, the Applicant want to withdraw the CP(IB)/03/KOB/2021. 6. The Respondent/Corporate Debtor filed an objection to this application and stated that the CP(IB)/03/KOB/2021 pertains to the import of Raw Cashew Nuts weighing 800 Metric Tons from Bissau Port in Republic of Guinee Bissau to Tuticorin Port in Republic of India. The cause of actio....
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....y claiming to be the Power of Attorney Holder of Mr. Jose Samuel, with the intention to obtain a wrong gain to him and causing a wrongful loss to the Respondent/Corporate Debtor Company. 8. On 29.07.2021 we have heard the learned counsel for both the parties and also have gone through the pleadings on record. We have reserved the matter and directed the Applicant/Operational Creditor to pay the costs of Rs. 25000/- (Rupees Twenty-Five Thousand Only) through Bharatkosh to the Ministry of Corporate Affairs within one week from that day and submit proof of payment along with an affidavit on or before 10.08.2021, in order to consider his request for withdrawal of CP(IB)/03/KOB/2021. However, the Applicant has not produced the proof of payment ....