Page 459 - IBC Orders us 7-CA Mukesh Mohan

Order Passed Under Sec 7
By Hon’ble NCLT Chandigarh Bench

(a) 1st pari pasu charge over fixed assets of the company present and future including Land & Building
situated at Ajnata Road Opposite Amritsar international Airport, Amritsar.

(b) Extension of charge over the SCO No. 166 Sector 38 C & D Chandigarh.

(c) Extension of charge over the SCO No. 205 Sector 36D, Chandigarh.

(d) Extension of charge over the SCO No. 167 Sector 38 C & D, Chandigarh.

(e) Extension of charge over the COMMERCIAL LAND AND BUILDING AND LAND AT G.T. Road,

Amritsar

(f) Extension of charge over the residential property bearing No. 21, Block L, Birch Court, Nirwana
Country, South City 2, Phase II Gurgaon Haryana.

(g) Extension of charge over the residential property bearing No. 30, Road No. 64, Village Madipur West
Punjabi Bagh New Delhi.

(h) Exclusive charge of Property bearing Pt No. 75, 76, 77, Khasra No. 22/120 Min situated at Rakba
Village Sichandar, Tehsil & distt. Amritsar Vide Sale Deed 9803 dated 10.10.2006.

Entries were made in the relevant register of the Bank in proof of creation of equitable mortgage by

deposit of title deeds. These entries are at Annexure A-34 (colly) from pages 622 to 625 of the Paper
Book. The Certificate of Registration of Charge entered in the record of Registrar of Companies is at

Annexure A-6 (colly).

9. It is further stated that due to continuous default committed by the 'Corporate-Debtor' the account of
the 'Corporate-Debtor' was declared as Non-Performing Asset (NPA) on 14.07.2016 and the petitioner
bank issued the recall notice dated 31.01.2017 Annexure A-4, The 'Corporate-Debtor' is said to have

defaulted for an amount of ` 13,34,38,741.78 as on 01.07.2016 plus the interest w.e.f. 01.07.2018 and
according to 'Financial-Creditor' the amount of default up to 30.04.2017 comes to ` 14,76,36,740.34.

10. When the matter was listed for the first time before the Tribunal on 11.07.2017 it was noticed that

statements of account of the 'Corporate-Debtor' relied upon by the Financial-Creditor' were not certified
under the Bankers' Books Evidence Act. Notice of this defect was issued to the petitioner and learned
counsel for the petitioner present accepted the notice. It was directed to make compliance within a period

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