Page 154 - IBC Orders us 7-CA Mukesh Mohan

Order Passed by Sec 7
Hon’ble NCLT Principal Bench
approached and requested the Financial. Creditors to help them out. Thereafter on different elates as per

the table mentioned at Part-IV of the application, an amount of Rs. 51,750,000/- was disbursed by the
Financial Creditors which included a sum of Rs. 25,00,000 given by one Mr. Vinay Lakra.

4. It is also the case of the Financial Creditors that Financial Creditor Nos. 3 & 4 namely Ms. Babita
Guliani and Ms. Juhi Guliani executed two sale deeds dated 01.01.2014 & 12.02-2014 (Annexure-1) with
respect to first floor and ground floor respectively of their house in favour of Ms. Mahima Sharma. W/o

Shri Atul Sharma. Out of the total consideration received from aforesaid sale transactions, an amount of
Rs. 3,37,00,000 (Rupees Three Crore Thirty Seven Lakh) was given as loan to the Corporate Debtor by

Financial Creditors. In terms of the said loan the respective floors were mortgaged in favour of Financial
Creditor No. 1

5. Financial Creditors have further claimed that thereafter on 12.05.2014 another sale deed (Annexurc-2)
with respect to the second floor without roof rights of property No. 5, Road No. 5, Punjabi Ba.gh Extn_
New Delhi-1 10026 was executed by Ms. Anita Guliani mother of Financial Creditor No. 2 in favour of

Ms. Mahima Sharma W/o Shri Atul Sharma. Out of the total consideration received from aforesaid sale
transactions, an amount of Rs. 2,20,50,000 (Rupees Two Crore Twenty Lakh Fifty Thousand) was given.
as loan to the Corporate Debtor by Financial Creditors. In terms of the said loan the respective floors were

mortgaged in favour of Financial Creditors.

6. It is also the case of the Financial Creditors that on 17,02.2014, a loan agreement (Annexure-3) was

executed between the Financial Creditor No. 1 along with one Mr. Vinay Lakra and the Corporate Debtor.
Ms. Mahima Sharma W/o Shri Atul Sharma has been a Guarantor of the said loan. In pursuance of
aforesaid agreement, a loan of Rs. 3,12,00,000i- (Three Crore Twelve Lakhs) and Rs. 25,00,000/-

(Twenty Five Lakhs) was given by Financial Creditor No. 1 along with one Mr. Vinay Lakra to the
Corporate Debtor for a period of 90 days. In the aforesaid transaction Ms. Mahima Sharma being the

Guarantor had also given the possession of the Ground and First Floor of the property bearing No_ 5,
Road No. 8, Punjabi Bagh Extn. New Delhi as security to the Financial Creditors. A copy of the loan
agreement with charge over the floors which is dated 17.02.2014 and a security cheque for a sum of Rs.

50,00,000/- was issued. The security cheque bearing No. 000022 is on record (AnneKure-3 (Cony)). The
cheque is drawn on. Bank of India, 54, Old Ishwa• Nagar, New Friends Colony Branch, New Delhi. On
the presentation of the said cheque it was dishonoured on 16.08.2014. A copy of the return memo has

been placed on record (Annexure-4(Colly)).

7. Financial Creditor in its application have further asserted that as a timely repayment of loan amount

Corporate Debtor issued three postdated cheques in favour of Financial Creditor for an amount of Rs.

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