2022 (2) TMI 1385

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....N AND DR. ALOK SRIVASTAVA, MEMBER (TECHNICAL) For Appellant : Mr. Arjun Nanda, Mr. Sumeer Sodhi, Mr. Bharat Kumar Jain, Mr. Mrunal Surana, Advocates. For Respondent : Mr. Nilesh Kothari, Advocate for R1. Mr. Rohit Sharma, Mr. Soyaib Qureshi, Mr. Sandeep Bajaj, Advocates for R2. ORDER Heard Learned Counsel for the Appellant. 2. This Appeal has been filed against the order dated 15....

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.... challenging the order submits that the Adjudicating Authority committed error in observing that no reply was filed by the Corporate Debtor to Section 7 Application whereas reply was filed on 20.01.2021 by e-mail. He further submits that he does not admit the amount of default as claimed by the Financial Creditor. 4. We have heard Learned Counsel for the Appellant and we have also perused the r....

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....id Settlement Agreement on account of such unprecedented financial trouble and downfall in the real estate market led to such circumstances that the Corporate Debtor could not make the balance payment maximum to the extent of Rs. 1.35 Crores to the Financial Creditor in terms of what was agreed under the said Settlement Agreement." 6. The figure of Rs.1.35 Crore which was mentioned in the Reply....