TaxTMI 
TaxTMI 
2023 (12) TMI 1171
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....) of the Insolvency and Bankruptcy Code, 2016 (in short 'Code') against the common Impugned Order dated 13.10.2021 passed by the National Company Law Tribunal, Jaipur Bench (in short 'Adjudicating Authority'), whereby the Adjudicating Authority admitted the Application filed by the Respondent No. 2 in Company Appeal (AT) (Insolvency) No. 879 of 2021 and Respondent No. 1 in Company Appeal (AT) (Insolvency) No. 270 of 2022 i.e., Shankar Khandelwal as Financial Creditor under Section 7 of the Code. Mr. Pankaj Khandelwal is the Appellant in Company Appeal (AT) (Ins.) No. 879 of 2021 and Rajasthan State Industrial Development and Investment Corporation Limited (for short 'RIICO') is the Appellant in Company Appeal (AT) (Insolvency) No. 270 of 2022. 2. The Corporate Insolvency Resolution Process (in short 'CIRP') was initiated against A. Gangwal Real Estate L.L.P who is the Corporate Debtor and the Respondent herein. A moratorium was declared under Section 14 of the Code. 3. Since both appeals have been preferred before us against the same common Impugned Order dated 13.10.2021 and are based on same or similar facts and were also heard conjointly, as such we will examine both t....
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....t dated 31.12.2015 is the Agreement which incorporates the retirement of the Respondent Shankar Khandelwal from the Corporate Debtor w.e.f. 01.04.2016. It is the case of the Appellant that the entire outstanding duty along with unsecured loans belonging to Shankar Khandelwal, his wife Guman Khandelwal and their concerns were squared off against outstanding debts and adjustment paying off balance outstanding in terms of LLP Agreement dated 31.12.2015. 10. The Appellant castigated the conduct of the Respondent Shankar Khandelwal who filed false FIR to deceive other partners of the Corporate Debtor for the purpose of extortion and blackmail and the said FIR was closed by the Police putting a FR being false FIR. 11. The Appellant submitted that the liabilities of both, the incoming and outgoing partners' were crystallized and determined by way of preparing audited balance sheets, duly signed by the Statutory Auditors of the Firm and all these well duly registered with the office of the Registrar of Companies. 12. The Appellant denied the averments of the Respondent - Shankar Khandelwal regarding dishonours of 6 alleged cheques out of which 3 cheques were issued by Mr. Mudi....
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....ules only Designated Partners of the Corporate Debtor can act on behalf of the LLP, hence Appeal deserves to be dismissed for the want of locus of the Appellant. 17. It is the case of the Respondent Shankar Khandelwal that the LLP agreement dated 31.12.2015 is forged & fabricated document. The Respondent Shankar Khandelwal claimed that in the year 2016, a false case was planted against him because of which he was arrested and during his time in jail, other partners of the Corporate Debtor pressurised him (Shankar Khandelwal ) and his wife to sign few documents on the false promise to pay back him his entire dues by the Corporate Debtor and accordingly the Respondent Shankar Khandelwal signed these documents which were later used for printing the LLP agreement dated 31.12.2015, the terms and clauses of which were never agreed by and between the then partners. The Respondent Shankar Khandelwal submitted that the LLP document dated 31.12.2015 relied upon by the Appellant is disputed and an FIR to this effect had already been filed. The Respondent Shankar Khandelwal claimed that he was forcefully and deceitfully made to retire from the firm and the then partners of the Corporate Deb....
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....6, the balance due and payable to the Respondent No. 1 Shankar Khandelwal was only Rs.5,16,55,842/- and the same was repaid and thereby there is no debt due and payable as on date by the corporate debtor to the Respondent No. 1. 22. The Appellant RIICO gave the background of CBI case against the the Respondent Shankar Khandelwal who is allegedly to be one of the masterminds in money laundering of approximately Rs. 1055.79 Crores from Syndicate Bank and based on various FIR's registered by the CBI, ECIR No. JPZO/01/2016 was registered on 11.07.2016 by the Enforcement Directorate ("ED"). The Appellant RIICO stated that the Respondent Shankar Khandelwal was arrested in connection with the said Fraud on 18.03.2016 and in pursuance to the said ECIR, Provisional Attachment order was issued on 10.05.2018 by the Deputy Director, Enforcement Directorate, Jaipur wherein the aforesaid Mortgaged Property of the Corporate Debtor M/s. A. Gangwal Real Estate LLP was attached under the provision of Prevention of Money Laundering Act (in short 'PMLA'). 23. It has been submitted that when the said attachment came to the Appellant RIICO's knowledge, the Appellant challenged the same bef....
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....ding circumstances, the relationship and character of the transaction and the manner in which parties treated the transaction will throw light on the true form of the transactions." 16. The Hon'ble Supreme Court in 'V.E.A Annamalai Chettiar and Anr.' Vs. 'S. V.V.S. Veerappa Chettiar & Ors.', AIR 1956 SC 12 has observed that 'the answer to the question whether it was a loan or deposit would not depend merely on the terms of the document but has to be judged from the intention of the parties and the circumstances of the case. That is manifestly the correct approach'." (Emphasis Supplied) The Appellant submitted that as per the above, it can be clearly noted that the true intent behind a transaction being a loan/debt or not has to be determined on the basis of the surrounding circumstances of the case as well as the intention of the parties. 25. The Appellant also cited the judgment of the Hon'ble Supreme Court in Phoenix ARC Private Limited v. Spade Financial Services Limited & Ors., [(2021) 3 SCC 475], wherein it was held as follows: "48. The above discussion shows that money advanced as debt should be in the receipt o....
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....he Appellant that those transactions which are collusive in nature, or are a sham in nature, i.e., where the illusion is created that a "loan" is satisfying the elements of financial debt, these transactions can not be seen as legally valid financial debts under the Code. 26. The Appellant alleged that the Respondent Shankar Khandelwal is attempting to recover tainted money from the Corporate Debtor, which is forming a part of the proceeds of crime. Even if the alleged loan is found to not be a part of the proceeds of crime, any attempts towards recovery of the amount would have to be adjudicated by a civil court under a recovery suit. The intent of IBC is not to facilitate recovery for creditors. 27. The Appellant stated that the date when debt became due is unknown and the Respondent Shankar Khandelwal has taken the debt becoming due from the date of filing of an FIR against Corporate Debtor i.e. 17.04.2017 which is not admissible particularly in absence of any written contract. 28. The Appellant stated that as there was no agreement between the parties, there is no agreed interest rate which is to be charged on the transferred amount, or if the transfer was interest fre....
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....een attached only to the extent of Rs. 7.37 Crores whereas the valuation of the property was Rs. 79.16 Crores in year 2014. It is the case of Appellant that the Appellant without prejudice to its submissions, undertook to pay a sum of Rs. 7.37 Crores to the Directorate of Enforcement out of the surplus of the sale proceeds of the said property which is duly recorded in the order dated 17.06.2019. As a result of this attachment, the Appellant has been unable to liquidate the same and satisfy its dues. The Appellant reiterated being Government Company and attachment of these properties would deprive the Appellant from recovering the due amount, which in turn would be a loss of public money. 34. Per contra, the Respondent Shankar Khandelwal stated that there is no place for any third party other than the concerned financial creditor and the Corporate Debtor under Section 7 of the Code. The Respondent No. 1 cited the judgment of Vekas Kumar Garg vs. DMI Finance Pvt. Ltd., CA(AT)(Ins) No. 113 of 2021, wherein this Appellate Tribunal has categorically held that in an application under Section 7, the Financial Creditor and the Corporate Debtor alone are the necessary party at the pre-a....
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....not create legal bar upon the Respondent Shankar Khandelwal to initiate CIRP of the Corporate Debtor/ LLP. The Respondent Shankar Khandelwal further submitted that the investigation concerning proceeds of crime falls under the ambit of Prevent of Money Laundering Act, 2002 while the present appeal challenges the admission order passed by the Adjudicating Authority on an application filed under Section 7 of the Code and hence, the same cannot be clubbed. The Respondent Shankar Khandelwal, concluded his arguments with request to dismiss both these appeals. 39. As regards contentions of the Appellant that there was no written agreement so there is no Financial Debt, we note that the Code nowhere prescribes the compulsory existence of an express agreement to prove the loan and its disbursement to be treated as a 'financial debt. Where there are acknowledgements by corporate debtor and where the statement of accounts produced proves the disbursement of a loan and payment of interest, the lack of an express loan agreement would not bar financial creditor from initiating CIRP. In the present appeals, we have seen Balance Sheet prepared clearly acknowledged debts dues towards the Re....
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....tial party. However, any person aggrieved by same can make an appeal under Section 61 of the Code, and both the Appellants have filed the present appeals aggrieved by the Impugned Order. The Section 61 of the Code reads as under :- "61. Appeals and Appellate Authority. - (1) Notwithstanding anything to the contrary contained under the Companies Act 2013 (18 of 2013), any person aggrieved by the order of the Adjudicating Authority under this part may prefer an appeal to the National Company Law Appellate Tribunal. *** (Emphasis Supplied) 42. Since both the parties have relied heavily on LLP Agreement dated 31.12.2015, it will be desirable for us to refer and take a note of the same. The said LLP Agreement dated 31.12.2015 reads as under :- 43. From the above LLP Agreement dated 31.12.2015 following salient points emerges :- (i) The terms of the Resignation of Mr. Shankar Khandelwal was mentioned in Clause 5. (ii) The Outgoing Partner Shankar Khandelwal retirement was w.e.f 01.04.2016. (iii) The Outgoing Partner Shankar Khandelwal did not continue for any right over share, right, title, interest or claim, of any nature whats....
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....s per this note, the outstanding debt to Respondent Shankar Khandelwal was Rs. 5,16,55,842/-. This implies that earlier outstanding balances as claimed by the Respondent Shankar Khandelwal have been paid as per instructions of the Respondent Shankar Khandelwal and now at this stage, such plea of the Respondent for payment to other entity and not to him, can not be accepted. Thus, we hold that crystalised final outstanding debt by the Corporate Debtor to Respondent Shankar Khandelwal was Rs. 5,16,55,842/- and not other inflated outstanding claims as made out during averments by the Respondent Shankar Khandelwal. 48. Here, we will also like to refer to Ledger Accounts of the Corporate Debtor A. Gangwal Real Estate LLP with reference to accounts of Respondent Shankar Khandelwal. The relevant Ledger Accounts are reproduced for ready reference as under :- 49. The Respondent Shankar Khandelwal has pleaded not to take into account the Ledger Accounts; although with rider he has acknowledged the Balance Sheet while accepting outstanding Rs. 5,16,55,842/- as financial debt owed by Corporate Debtor to him. Hence, let us examine relationship between the Balance Sheet accepted by the Res....
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..../-, remained outstanding which was paid to the Respondent Shankar Khandelwal by the Corporate Debtor on 28.10.2016 by way of two drafts bearing nos. 725194 and 725195 amounts to Rs. 4,12,72,252 and Rs. 25,000/- respectively, towards the full and final discharge of its liabilities. The purported date of default, 17.04.2017, has been taken on account of a First Information Report (FIR) which the Respondent Shankar Khandelwal failed to place on record with Application under Section 7 of the Code and filed it subsequently only with his additional affidavit on 20.07.2021. 51. In this context, we also note from the averments of the Respondent Shankar that (a) Bank Statement cannot be valid proof for discharge of its debt and (b) payment to third independent entity cannot be regarded as valid discharge of debts. As regards the first argument of the Respondent, we consider that bank payment, primarily, is valid proof, of course, which need to be co-related with other relevant information as and if needed. As regard, Second issue raised by the Respondent Shankar Khandelwal about payment to third Independent entity, generally speaking, the transactions are required to be made inter-se bet....
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.... tend to accept the pleadings of the Appellant that based on combined examination of Ledger and balance sheet it is proven that all dues towards the Respondent Shankar Khandelwal stand settled. 53. We also note the allegations of the Appellants that the Respondent Shankar Khandelwal is allegedly attempting to recover tainted money from Corporate Debtor, which is forming a part of the proceeds of crime. Even if the alleged loan is found to not be a part of the proceeds of crime, any attempts towards recovery of the amount would have to be adjudicated by a civil court under a recovery suit. The intent of IBC is not to facilitate recovery for creditors. We tend to agree that once all outstanding dues have been paid by the Corporate Debtor to the Respondent Shankar Khandelwal, disputed claims if any, can be raised in suitable other legal forum and IBC can not be used for such recovery proceeding. In this connection, we note the judgment of the Hon'ble Supreme Court in Swiss Ribbons (P) Ltd. v. Union of India, [(2019) 4 SCC 17] [Page 39, Paragraph 28] states: "28. It can thus be seen that the primary focus of the legislation is to ensure revival and continuation of th....
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....y company or to any individual other than the petitioner cannot be treated as the due discharge of the debt payable to the petitioner. 9. We find force in the submissions made on behalf of the petitioner, since the respondent-corporate debtor failed to show any valid proof that the debt due and payable to the petitioner in his individual capacity is paid to him in his individual capacity." (Emphasis Supplied) 56. Thus, the main basis contained in the Impugned Order for admission of the Application under Section 7 of the Code is that the Corporate Debtor failed to show any valid proof that debt due and payment to the Respondent Shankar Khandelwal was paid in his individual capacity. In this regard, we have already examined in details that in normal circumstances the payment is to be made to the party from whom money was taken, however, the significant point in present appeal is to note about specific written instruction/ advise/ agreement, whereby the Lender (the Respondent Shankar Khandelwal ) asked borrower (the Corporate Debtor) to pay to third party (M/s Guman Builders and Developers Private Limited) as settlement of such dues. In term Clause 5(vi) of LLP Ag....
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.... NOTARY JAIPUR Rajasthan ( INDIA ) 3 binden GumanKhandelwal Shanker LalKhandelwal TRUE COPY Document 2 HOTAR MK BAGOTIA Reg. Nr Go 2. 2.1 1.5 1.2 1.3 1.4 Mr. Vinay Tembi, S/o Shri Avadh Behari Tambi, R/o D-701, Somdatts Landmark. Hawa Sadak, Civil Lines, Jaipur-302006 Rajasthan having DPIN: 02135334 which expression shall, unless it is repugnant to the subject or context thereof, includes his legal heirs, successors, nominees and sermitted assignees and hereinafter called the "SECOND FARTY" (hereinafter referred as 'Continuing Partner'). Mr.Suraj Narain Khatoria, S/o Lu Shri Sil Narain Khaturia, R/o B-13(1), Shiv Marg, Bani Park, Jalpur-302016 Rajasthan having DPIN: 00440622 which expression shall, unless it is repugnant to the subject or context thereof, includeshis legal heirs, successors, nominees and permitted assignees and hereinafter called the "THIRD PARTY" (hereinafter referred as 'Continuing Partner'). Mr. Mudit Dangayach, S/o Shri Ramesh Dangayach, R/o B-5, Sais Colony, Power House, Road, Jaipur - 302001 Rajasthan having DPIN: 06609933 which expression shall, unless it is repugna....
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....anged from A. Gangwal Real Estate LLP to Sanwariyaji Ventures LLP w.e.f 08 October, 2014 after obtaining consent from, the designated partners. The aforesaid LLP again changed its name to A. Cangwal Real Estate LLP w.e.f. 24 December, 2014 after obtaining consent from the designated partners; 2.6 Thereafter, vide Supplementary LLP Agreement dated 01/01/2015, Shri Nawal Kishore Dangayach, Shri Vinay Tambi, Shri Suraj Narain Khatoria and Shri Mudit Dangayach were admitted as Designated Partners to the LLP. 3. Now, the sixth Party to the agreement has given notice to the first, second, third, fourth and the Fifth party of his desire to retire voluntary from the said LLP as from the 1* April 2016; The party first, second, third, fourth and Fifth part have agreed on the retirement of the Sixth party and accepted his written resignation letter in form 13 of Limited Liability Partnership Act, 2005: The outgoing partner being the Sixth Party wish to retire on the following terms and conditions: The Outgoing Partner shall retire frcin the said LLP on the 14 April 2016 (hereinafter referred to as the "Retirement Date). The retirement of t....
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....y Tower B-2, Ashok Marg, C-Scheme, Jaipur, Rajasthan with effect from 1 April 2016; All the correspondence in future with the AGKE LLP shall be made at F-13, 6th Floor, Mahima Triniti Tower, Swej Fern, New Sanganer Road, Sodala, Jaipur, Rajasthan; It is agreed to enter into this agreement to give effect to the said transaction with effect from 1 April 2016. The said Partnership between the first, second, third, fourth and Fifth party will continue hereafter on the same terms and conditions as are contained in the said Deed of Partnership and it supersedes all the deeds/ agreements made before the said deed. AND FURTHER WHEREAS that notwithstanding anything contained in any of the Agreements subsisting between the parties to this Agreement, the terms and conditions agreed by and between the partles to this deed shall be final and binding on the parties to this Agreement. The parties to this Agreement have mutually agreed hereto to reduce and record the terms and conditions of settlement of the said property un emeath: NOTAR 4. MBAGOTIA N ITIS HEREBY AGREED BY THE PARTIES HERETO AS FOLLOWS Rev 1. of G....
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....s, reading rooms, meeting rooms, laboratories, water, electric and all other conveniences including inter communication equipments. To carry on the business as estate developers, agents and managers and to collect rents, arrange, repairs, look after and manage immovable properties of persons, rms and companies, Government and others, to give, take, sublet lease out any Inperty, to carry out, undertakes or supervise any building construction, altering mproving, demolishing and repairing structure and other works and operations relating to townships, colonies and other. 7. PROFIT SHARING RATIO: The net profits of LLP arrived at after providing for payment of remuneration to the working partners and interest to partners on the loan given by them shall be divided in the following proportions: ATT ATTESTED NOTARY JAIPUR Rajasthan (INDIA) Partners Ratio Party of the First Party 37.50 Party of the Second Party 15.00 Party to the Third Party 10.00 Party to the Fourth Party 15.00 Party to the Fifth Party 22.50 100% TOTAL The losses of the LLP including loss of Capital, if any, shall be borne and paid by t....
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....the majority of the partners. The majority shall be construed in terms of the number of partners and not by their share in the LLP. Cas Nawal Kishore Dangayach Vny Tanibi cuatoria Suraj Narain Khatoria Pudiz Mudit Dangayach bende Guman Khandelwal Shankar Lal Khandelwal Document 7 10. RIGHTS OF PARTNERS 10.1 All the partners hereto shall have the rights, title and interest in all the assets and properties in the said LLP in the proportion of their fixed capital Contribution. 10.2 Every Partner has a right to have access to and to inspect and copy the books of the AGRE LLP. .10.3 Each of the partners hereto shall be entitled to carry on their own, separate and independent business as thereto they might be doing or they may hereafter do as they deem fit and proper and other partners and the LLP shall have no objection thereto provided that the said partner has intimated the said fact to the AGRE LLP before the start of the independent business and moreover he shall not use the name of the LLP to carry on the said business. 11. 12. 13. NOTAR MX BAGOTIA Reg. No 56 Advocate Go....
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.... 15.2 Each partner shall render true accounts and full information of all things affecting the AGRE LLP to other partner (s) or his legal representatives. 15.3 Every partner shall account to the LLP for any benefit derived by him without the consent of other partners of the LLP from any transaction concerning the LL", or from any use by him of the property, name or any business connection of the LLP. 154 Every partner shall indemnify the TLP and the other existing partner for caused to it by his fraud in the conduct of the business of the LLP. any loss 15.5. In case any of the Partners of the LLP desires to transfer or assign his interest or shares in the LLP he car. transfer the same only with the prior written consent of all the Partners. 15.6 All notices required to be given to any partner shall be deemed to have been served, if sent to such partner at the office of the LLP or at his residential address by registered post 15.7 None of the Partners shall sell or mortgage his share and interest in this Partnership business to any third party, without the consent of the other partners. 16. No Partner shall withou....
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....wal Document 9 Individual partners or in case of urgent meeting the same can be called by the telephonic conversation but the notice requirement is to be rectified by all the Partners, 17.4 With the written consent of all the partners, a meeting of the partners may be conducted through Teleconferencing. 17.5 The meeting of Partners shall ordinarily be held at the registered office of the LLP or at any other place as per the convenience of partners. 17.6 The LLP shall ensure that decisions taken by it are recorded in the minutes within 30 days of taking such decisions and are kept and maintained at the registered office of the LLP. 16. Each partner shall- 18.1 Punctually pay and discharge the separate debts and engagement and indemnify the other partners and the AGRE LLP assets against the same and all proceedings, cost, daims and demands in respect thereof. 18.2 Each of the partners shall give time and attention as may be required for the fulfillment of the objectives of the AGRE LLP business and they all shall be the working partners. 19. DUTIES OF DESIGNATED PARTNERS: 19.1 First, Second, Third, Fourth and Fifth Party shal....
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....her partners before the Authorities which inay necessary from time to time. All acts, deeds and things done by a partner in bonafide interest of the business of the LLP shall be binding upon all the partners. 19.11 To sign and conduct all correspondence relating to the said partnership LLP. (a) Generally to act in relation to matters aforesaid and all other matters in which LLP will be interested or concerned and to execute and do all deeds, acts or things relating to any department. (b) To submit dispute in relation to business of the LLP to arbitration. (c) To compromise or relinquish any claim or portion of claim (d) To withdraw a suit or proceedings. (e) To admit any liability in a suit or proceedings against the LLP. 19.12 Borrowings: That the designated parmers shall be entitled to raise any finances, loan(s) on and for behalf of the said LLP only after consent of majority of partners by numbers. 19.13 Loans and Advances: Any partner may, with the consent of the other partners, advance any amount of money, as may be required for carrying on the business of the LLP, by way of lan which may bear interest at the rate not more....
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....ing to their respective shares. In case of loss, they shall bear the same according to their respective shares. Every year income tax return shall be prepared MX BAGOTIA Advocat Reg. Nc 4856nd submitted to the Income Tax Department. Govt 24. ATTESTE! NOTARY JAIPUR Rajasthan (INDIA ) 23. Oi bitration: Subject to the provisions contained hereinabove, if at any time any ispute, doubt or question shall arise between the partners either on the construction of these presents or respecting the accounts, transactions, profits or losses of the business or otherwise in relation to the partnership then any such dispute, doubt or question shall be referred to Sole Arbitrator, appointed with the mutual consent of all the parties. The decision of the Sole Arbitrator shall be final and binding on all the parties. The matter shall be settled in accordance with the provisions contained in the Arbitration & Conciliation Act, 1995, The courts in Jaipur shall have Jurisdiction over any and all the matters related to the partnership business/ LLP. That all or any of the terms and conditions of this deed may be MODIFIED ALTERED O....
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....,185 2,444,270 268,439 1,009,210,834 893,827,624 S 993,229,655 892,014,750 6 7 1,099,764 14,881,414 1,626,239 186,636 1,009,210,834 893.827.624 1 to 12 For A. GANGWAL REAL ESTATE LIK For A. Goal Ente LLP For Al VINAY TAMBI Designated Partner Partner (DPIN: 02135334) GUMAN KHANDELWAlated Partn Designated Partner (DPIN: 01328188) TRUE COPY Document 14 LLPIN: AAC-5469 NOTE 1 Contribution A. GANGWAL REAL ESTATE LLP NOTES TO BALANCE SHEET AS AT MARCH 31, 2016 6) Guman Khandelwal b) Mudit Dangayach c) Nawal Kishore Dangayach d) Shankar Lal Khandelwal c) Suraj Narain Khatoria (In Rs.) As at March 31, 2016 As at March 31, 2015 22,500 22,500 10,000 10,000 22,500 22,500 25,000 25,000 10,000 10,000 10,000 10,000 Total 100,000 100,000 Vinay Tambi(Amamath interprises) NOTE 2 (la Rs.) Partner's Current A/c As at March 31, 2016 As at March 31, 2015 d) Shankar Lal Khandelwal e) Suraj Narain Kintoria a) Guman Khandelwal b) Mudit Dangayach c) Nawal Kishore Dangayach f) Vinay Tambi(Amamath Enterprises....
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....-6-2015 To Syndicate Bank-83771010000841 30-6-2015 By Syndicate Bank-83771010000841 1-7-2015 To Syndicate Bank-83771010000841 TO GUSIAN FURNITURE & SERVISES PVT.LTD. 2-7-2015 To Syndicate Bank-83771010000841 10-7-2015 By Syndicate Bank-83771010000841 16-7-2015 By Syndicate Bank-83771010000841 25-7-2015 By Syndicate Bank-837710100008411 30-7-2015 By Syndicate Bank-83771010000841 31-7-2015 By Syndicale Bank-83771010000841 6-8-2015 By Syndicate Bank-83771010000841 .7-8-2015 By Syndicale Bank-83771010000841 11-8-2015 By Syndicate Bank-83771010000841 Receipt Receipt Recelpt. Receipt 12-8-2015 By Syndicate Bank-83771010000841. Receipt 22-8-2015 By Syndicate Bank-83771010000841 Receipt Receipt Receipt Receipt Payment 0.00 00,000.00 30,00,000.00 Payment 40,00,000.00 Payment 1,30,00,000.00 Payment 2,20,00,000.00 Payment Payment Payment 5,00,000.00 20,00,000.00 40,00,000.00 Receipt 75,00,000.00 Payment 5,00,000.00 Journal 30,00,000.00 Payment 60,00,000.00 Receipt Receipt 2,00,000,00 1,00,000.00 Receipt Receipt 10,000,00 2,00,000:....
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.... Journal Receipt 9,00,000.00 10,00,000.00 Payment 45,000.00 To Closing Balance 47.16,45,000.00 5,16,55,842.00 52,33,00,842.00 3,16,33,670.00 52,33,00,842.00 52,33,00,842.00 Document 17 284 A.GANGWAL REAL ESTATE LLP IT (From 1-Apr-2014) Shankar Lal Khandelwal Ledger Account 1-Apr-2016 to 31-Mar-2017 Any-K- Date Particulars Vch Type 1-4-2016 By Opening Balance 1-4-2016 To Shankar Lal Kahdelwal Current A/c 30-6-2016 To HDFC Bank-50200010761840 18-7-2016 By HDFC Bank-50200010761840 By HDFC Bank-50200010761840 Vch No. Debit 5,16,55,842.00 Page 1 Credit Journal Payment 1,08,589.87 2,50,000.00 Receipt 1,00,00,000,00 Receipt 1,00,00,000.00 To HDFC Bank-50200010761840 To HDFC Bank-50200010761840 19-7-2016 To HDFC Bank-50200010761840 11-8-2016 By HDFC Bank-50200010761840 To HDFC Bank-50200010761840 Payment rtgs 1,00,00,000.00 Payment rtgs 1,00,00,000.00 Payment rigs 1,00,00,000.00 Receipt rtgs 1,00,00,000,00 Payment rtgs 1,00,00,000.00 To HDFC Bank-50200010761840 Payment rtgs 1,00,00,000.00 To HDFC ....