2022 (2) TMI 1130

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.... nor any Reply has been filed. 2. This Appeal has been filed against the Order dated 28th May, 2019 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Bench-III) by which Order Application being IB-237/(ND)/2019 filed by the Appellant under Section 7 of Insolvency and Bankruptcy Code, 2016 (IBC in short) have been rejected. 3. The Appellant's case is that Appellant entered into an 'Investment Agreement' with the Respondent/Corporate Debtor on 01st April, 2014. As per the Investment Agreement, the amount of Rs. 75 Lacs were received by the Corporate Debtor from the Appellant which is clearly mentioned in the Investment Agreement itself. Learned Counsel for the Appellant further submits that Developer has ap....

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.... "We have gone through the documents filed by both the parties and heard their detailed arguments. Both parties have claimed completely different stories and have relied on completely separate set of documents to prove their stories. As contended by the Respondent, the relief sought by the Applicant in the two legal notices dated 12.07.2018 and 03.11.2018 are contrary to each other and there is no clarity of purpose. It is obvious from this divergence that the parties, especially the Applicant, have not approached the Tribunal with clean hands, which requires that the present application be dismissed outright. Further, the agreement dated 01.04.2014 entered into by both the parties is very vague in nature and it does not indicate w....

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....to which correspondences were entered. 8. The notice which was issued by the Appellant on 12th July, 2018 was replied by the Respondent/Corporate Debtor where the Corporate Debtor clearly admitted the debt and mentioned that Appellant shall be paid. The Notice dated 12th July, 2018 have been brought on record at page 102 and Reply of which is at page 106 of the Appeal Paper Book. Paragraph 3 and 10 of the Reply may specifically be noted which provides as follows: "3. That your client and her husband Late Sh. Subhash Lakhotia, being impressed with the project showed interest in the project and it was offered by them that an amount would be invested in it. The amount to be invested was with the intention to earn interest from this....