2022 (3) TMI 1225

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....ice Ashok Bhushan] Chairperson, [Dr. Alok Srivastava] Member (Technical) And [Shreesha Merla] Member (Technical) For the Appellant : Mr. Karan Gandhi, Advocate For the Respondents : Mr. Ankur Sood, Ms. Romila Mandal, Mr. Arnab Chatterjee, Advocates for R1. ORDER (Through Virtual Mode) I.A No.731 of 2022- By this Application, the Applicant has prayed for condonation of 14 days delay ....

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....on pressed by the counsel for the Appellant is that no further guarantee was taken after the agreement dated 10.10.2016, hence, the Appellant guarantee shall not continue to the subsequent facility and the Application under Section 7 filed on the basis of the subsequent facility dated 14.12.2017 could not have been admitted. 5. We have considered the submissions of the Learned Counsel for the A....

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.... 7. The facility agreement dated 14.12.2017 has been placed on record, heading of which indicate that it is renewal for extension of the earlier facility agreement. Subject of the facility agreement is to the following effect:- "RENEWAL TO THE RENEWED, AMENDED AND RESTATED FACILITY AGREEMENT DATED 10 OCTOBER 2016 BETWEEN LH ASIAN TRADE FINANCE FUND LTD AS THE LENDER AND EVEREST METALS ....

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.... on which the Guaranteed Obligations become due. 3.3 Waiver of defences xxx xxx xxx (f) any amendment (however fundamental), increase in waiver, release or replacement of any Facility Document or any other agreement, document or security. xxx xxx xxx (i) Any variation, renewal, increase, extension, compromise, discharge, dealing with exchange or renewal....