2022 (3) TMI 813

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....016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 to initiate Corporate Insolvency Resolution process against Corporate Debtor. 2. The Financial Creditor/Applicants had made payment of Rs. 1,00,00,154/- (One Crore One Hundred Fifty Four Only) towards booking of three units in the housing project undertaken by the Corporate Debtor. Along with the interest and due Assured return amount, total debt for which the application is initiated is Rs. 3,08,67,100/-. 3. The Corporate Debtor i.e. M/s. Morpheus Developers Private Limited is a Private Limited Company having CIN U45200DL2012PTC240832 incorporated under the provisions of Companies Act, 1956 (now, Companies Act, 2013) on 24.08.2012. ....

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.... of second MOU dated 17th April, 2015. vii. It is the plea of the Financial Creditor that Corporate Debtor again requested to further extend the MOU and promised to pay assured return of Rs. 2,00,000/- per month for three months only from the date of commencement of said MOU for delayed delivery of possession of dwelling units/flats and entered into another MOU dated 17.03.2016 (Annexure A-7). At the time of extension of MOU Corporate Debtor had issued three cheques of assured return of Rs. 2,00,000/- each for three months as mentioned in MOU dated 17th March 2016, but those cheques were not realized as Corporate Debtor requested Financial Creditor not to present the said cheques because Corporate Debtor didn't had sufficient funds in....

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....porate Debtor and its directors U/s 138 of NI Act before the Metropolitan Magistrate, Karkarduma Court. Copy of the complaint has been annexed as Annexure A-11. Order of the Ld. MM, Karkarduma Court has been annexed as Annexure A-12. xii. It is pertinent to note here that none has appeared on behalf of Corporate Debtor despite receipt of process in complaint no. 2300/2016 u/s. 138 of N.I Act. Hence the accused has been declared absconder vide order dated 27.03.2019 and 26.04.2019 of Metropolitan Magistrate, Shahdara, Karkarduma Court, Delhi. xiii. That the Financial Creditor have also filed their claim on 22.03.2019 with the earlier appointed Resolution Professional in Corporate Insolvency Resolution Process initiated by this Hon'bl....