2022 (12) TMI 147

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....en filed against the order passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Court II dated 05.10.2021 passed on an application filed by the Resolution Professional. 2. An application was filed by the Resolution Professional under Section 19(2) of the I&B Code. The CIRP of the Corporate Debtor commenced on 22.07.2019. The IRP took charge only on 16.08.2019. It appears that the Corporate Debtor being an ongoing concern, certain transactions were made till 16.08.2019. When the IRP took charge the application was filed by the IRP questioning three transactions which have been dealt with in Para 3 in the order of the Adjudicating Authority. The Adjudicating Authority accepted two transactions which were cond....

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....djudicating Authority satisfied by two transactions where Corporate Debtor has infused Rs.2,00,000/- and Rs.17,73,405/- accepted the same. Since no proof was given for transaction for Rs.1,60,000/- the same was rejected. 5. We have considered the submissions of learned counsel for the parties and perused the record. 6. Para 3 of the impugned order where the Adjudicating Authority has dealt with the three transactions is extracted below which gives dates and amounts of transactions: "3. Three unauthorized debits/ withdrawals from the Bank Account of the Corporate Debtor is reflected in Bank statements which is Annexed as Exhibit 1 Page 4, 5 and 6 in the Affidavit of Rejoinder filed by the Applicant summarized as follows: Sr....

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....ies of 16th August 2019, and has for the first time in paragraph 4.u. of this Application, sought to question purported debit entry dated 26th July, 2019 of Rs.1,60,000/-. I say that no prior point in time did the Applicant or the CoC members question or seek any explanations from me regarding this particular debit entry dated 26th July, 2019. I say that no particulars whatsoever have been provided by the Applicant in relation to the said debit entry. I say that the above amount was utilized towards expenses for the Corporate Debtor's plant. The Corporate Debtor was using two DG sets with the capacity of 1500 KVA. As in rainy season, there were lot of power failure in Wada region and we had a 12 KM dedicated power line. To kick start and to....