Page 114 - IBC Orders us 7-CA Mukesh Mohan

Order Passed by Sec 7
Hon’ble NCLT Principal Bench
Commercial Tax Officer, SPL-I, Bhiwadi, Rajasthan;

11. Reply dated 27 April 2017 issued by the Financial Creditor, in relation to the Notice of
the Department of Commercial Tax;
12. Notice of the Public Auction dated 02 May 2017 published by the Commercial Tax

department for Sotanala properties.
Copies of the abovementioned documents are enclosed herewith as Annexure-W (Colly).

6. The application is duly supported by the affidavit of duly authorized representative of he

Financial Creditor Shri Balwant Kumar S/o Shri S.C. Singh.

7. From the perusal of the record, we are satisfied that the 'Financial Creditor' has proved by

overwhelming evidence that default has occurred, which meets the requirement of Section 3(11) and (12)
read with Section 7(3)(a) and Section 7(5) of the Code. A copy of CRILC Report (annexure-U), a copy of

Banker's Book ass per Banker's Evidence Act, 1891 (Annexure-V), Declaration of the Corporate Debtor
dated 3.12.2013 sent by the Corporate Debtor to the Financial Creditor admitting the liability, various
letters issued by Financial Creditor including the one declaring the account as NPA show overwhelmingly

the default committed by the 'Corporate Debtor'. We further find that the application is complete in all
other respects as the Insolvency Professional, Mr. Anil Kohli has been duly proposed and he has also

made full declaration. It is further evident from the affidavit of service that before filing the instant
application it was duly dispatched to the Corporate Debtor at its registered office which was delivered
and received by the Corporate Debtor.

8. The matter came up for consideration on 02.06.2017 and was posted for arguments on
27.06.2017. On 27.06.2017 Mr. Rakesh Gupta, Managing Director of the Corporate Debtor had appeared.

9. Accordingly, we have heard Mr. Jayant Mehta, learned counsel for the Financial Creditor and Mr.
Rakesh Gupta, Managing Director of the Corporate Debtor. Mr. Mehta has taken us through the paper
book and various documents which has led us to record our satisfaction with regard to the advancement of

loan, default, its dues admission by the Corporate Debtor and the proposal of Mr. anil Kohli as the
Insolvency Professional. Therefore, no exception is provided by the Corporate Debtor to decline

admission of the application.

10. As a sequel to the above discussion, this petition is admitted and Mr. Anil Kohli, 1011, Kiriti

Shikhar, Districte Centre, Janakpuri, New Delhi - 110058, e-mail aniljullundur@gmail.com, whose name

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