Page 792 - IBC Orders us 7-CA Mukesh Mohan

Order Passed under Sec 7
By Hon’ble NCLT New Delhi-II Bench
IN THE NATIONAL COMPANY LAW TRIBUNAL
NEW DELHI BENCH

C.P. (I.B.) No.51/7/NCLT/ND/2017

Decided On: 26.04.2017

Applicant: Mrs. Tripat Kaur
VS
Respondent: M/s Kaliber Associates Pvt. Ltd.

Judges/Coram:
Hon'ble Sh. INA Malhotra, Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Mr. R.K. Gupta and Mr. Swapnil Gupta, Learned Advocates

For Respondents/Defendant: None.

ORDER

Hon'ble Sh. INA Malhotra, Member (J)

1. The petitioner, as proprietor of a firm under the name and style of M/s. Gallerie Nvya, has filed the

present application u/s 7 of Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as 'IBC').

2. As per averments, she has claimed to be a Financial Creditor, having given an unsecured loan of Rs.1.5

crore to Respondent Corporate Debtor. The said amount was transferred on 21.01.2012 to the Corporate
Debtor's account vide RTGS from her Account maintained with Barclays Bank. This loan which was to
be repaid on demand attracted an interest of 18% per annum. The Corporate Debtor had been remitting

interest regularly as agreed and after deduction of the TDS u/s 194A of the Income Tax Act, paid
Rs.2,02,500/- per month. The Financial Creditor has filed a copy of her bank statements showing the
credit of the monthly interest from the period 01.04.2012 to 31.03.2013. This payment of interest is duly

corroborated by her Form 26AS reflecting the deposit of the TDS u/s 194A which is in respect of Income
from Interest (other than securities). The said receipts also find due confirmation in the ledger account of

the Corporate Debtor.

3. The payment of interest in terms of the aforesaid is also duly evidenced for the F.Y. 2013-14. For the

period 2014-15, the Corporate Debtor remitted Rs.50,00,000/- on 10.12.2014 as part repayment of the
loan. This was repaid along with eight cheques of the monthly interest of Rs.2,02,500/- for the period
01.04.2014 to 30.11.2014 (after deduction of TDS). It is submitted that the interest on the balance loan of

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