2019 (5) TMI 1917

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.... 1. The Appellant- 'Capri Global Capital Limited' one of the 'Financial Creditor' has challenged the order dated 17th December, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, which reads as follows: "ORDER CA-1131(PB)/2018 We have heard the arguments on the application CA-1131(PB)/2018 and expect the RP to act in accordance with the agreement dated 19.09.2014 and allocate the voting share to the CoC accordingly. The order is necessitated because other two petitions under section 7 of IBC namely C.P. No. (IB)-770(PB)/2018 & (IB)- 771 (PB)/2018 against the other two corporate debtors (sister concern) namely Value Infrabuild India Pvt. Ltd. and Value....

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....d signed whereby a sum of Rs. 37.50 Crores was sanctioned to the 'Corporate Debtor', Value Infratech India Pvt. Ltd.' and Value Infrabuild India Pvt. Ltd.' against which the 'Corporate Debtor' as well as Value Infratech India Pvt. Ltd.' and Value Infrabuild India Pvt. Ltd.' are jointly and severally liable. 4. The Appellant is aggrieved by the Impugned Order in terms of which the entire claim of Rs. 76,75,46,530/- of the Appellant as initially accepted (upto to the 5th 'Committee of Creditors') has been reduced to Rs. 1,86,00,000/- (before the 6th 'Committee of Creditors'), thereby resulting in reduction of the voting share of the Appellant from 51.55% to 2.35%. 5. Learned counsel for th....

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....r' in the 'Resolution Process' against the present 'Corporate Debtor'. 8. In this connection, one may notice the term loan facility for Rs. 37,50,00,000/- which were disbursed by the Appellant. On receipt of such loan by Value Infrabuild India Pvt. Ltd.', Value Infracon India Pvt. Ltd.' and Value Infratech India Pvt. Ltd.', they intimated the Appellant by letter dated 19th September, 2014 that the amount of Rs. 37,20,00,000/- be paid by High Value Cheque/Pay Order/Account Transfer separately against each name, as extracted hereunder: 9. The amount having been separately disbursed as per request of three different entities who signed jointly, it is clear that individual entities like Value Infrabuild Ind....

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....the tune of Rs. 37,20,00,000/- (Rupees Thirty Seven Crores Twenty Lakhs only) under the abovementioned toan Agreement. Request you to kindly disburse an amount of Rs. 37,20,00,000/- (Rupees Thirty Seven Crores Twenty Lakhs only by High Value Cheque/Pay Order/Account Transfer to the below mentioned secounts Sr. Beneficiary Name Amount Beneficiary Account Value infruild India Pvt. Ltd. 29,55,00,000/- Value infracon 2 1,00,00,000/- India Pvt. Ltd. Value Infratech India Pvt. Ltd. 6.65,00,000/- Account No.: 914020029452628 Bank Name: Axis Bank Branch: New Marine Lines, Mumbai Address: Ground Floor, Harchandra House, 81, Queen's Rd, Marine Lines, Mumbai - 400 002 IFSC Code: UTIB000....