Mr. Raja Som Sehrawat vs Optiemus Infracom Limited

IN THE MATTER OF: Raja Som Sehrawat ...Appellant

Versus

Optiemus Infracom Ltd. ...Respondent

Present: For Appellant : Mr. Peeyoosh Kalra, Mr. Sudhindra Tripathi, Mr. Rohan J Kapoor, Advocates.

For Respondent : Mr. Mudit Sharma and Ms. Snigdha Sharma, Advocates.

ORDER

31.01.2023: Heard learned Counsel for the Appellant as well as the

Respondent.

2. This appeal has been filed against the order dated 28.07.2022 by which

order, the Adjudicating Authority has rejected the Application filed under

Section 7 of IBC by the Appellant. The Appellant filed Section 7 Application

against the Corporate Debtor claiming an amount of Rs. 3.30 Crores, which

according to the Financial Creditor was disbursed on 22.07.2020 which has

not been paid. Adjudicating Authority considered the Application and rejected

the Application without issuing notice by making following observations in

paragraph-15 which is quoted below:

...

Company Appeal(AT)(Insolvency) No. 1150 of 2022 Page 1 of 3 15. In light of the above, we are of the view that as per the bank statements of the Financial Creditor, the amount i.e. Rs.

3,30,00,000/- was withdrawn on 22.07.2020, vide Cheque no. 000029, in the name of "Sehrawat Associates Pvt. Ltd." who is not the Corporate Debtor in the present petition. But in Part IV of the Application, the Financial Creditor has stated that the total amount of debt due from the Corporate Debtor i.e., Optiemus Infracom Limited is Rs. 3,30,00,000/- and the date of disbursement was 21.07.2020 vide cheque no. 000029 drawn on Bank of Baroda. In view of the above, as sufficient material evidence is not placed before this Tribunal to appreciate the averments made in the Application against the Corporate Debtor and as the Corporate Debtor has also not acknowledged the debt due in any form, this Application under section 7 of the Code is devoid of merits.

3. Learned Counsel for the Appellant submits that the Adjudicating

Authority has wrongly read the transaction dated 22.07.2020. The Bank

Statement which indicates that by a cheque no. 29 a sum of Rs. 3.30 Crores

was paid to Optimus Infracom Limited which entry of the Bank is dated

22.07.2020. Learned Counsel for the Appellant draws attention of this

Tribunal, the Bank Statement which is at page 62 of the Appeal Paper Book.

The Bank Entry dated 22.07.2020 is as follows:

"BANK OF BARODA DWARKA MAIN VARDHMAN PLAZA Date: 26-11-2021 Time: 12:13:46 ADDRESS: VARDHMAN PD PLAZA 1-6-12, MLU, DWARKA, NEW,DL, 110075 Helpline No.: 1800223344/18001024455/18002584455 BRANCH CODE NO.: 011-28033106-07 MICR CODE: 110012095 IFSC CODE: BARBODAWARK Page No. 3 Company Appeal(AT)(Insolvency) No. 1150 of 2022 Page 2 of 3 A/c Number : 30300400000173 Account Open Date: 07-12-2018 Statement of account for the period of 01-04-2020 to 30-08-2020

DATE PARTICULAR CHQ. NO. WITHDRAALS DEPOSITS BALANCE ...

To SEHRAWAT ASSOCIATES PVT. LTD - DAWARK 22-07-20 SERDEL-NEW 29 3,30,00,000.00 6,18,65,405.57"

...

4. Learned Counsel for the Respondent refuting the submissions, submits

that there was no financial debt and since no Notice was issued by the

Adjudicating Authority, the Respondent could not appear and oppose the

Application. He submits that the Application has been rejected by the

Adjudicating Authority.

5. In view of the fact that the Adjudicating Authority has rejected the

Application on mis-reading the bank statement, we in the interest of justice,

direct that the Application may be revived before the Adjudicating Authority for

consideration in accordance with law.

6. In view of the above, order dated 28.07.2022 is set aside. Company

Petition No. (IB)- 229(ND)/2022 is revived before the Adjudicating Authority to

be heard and decided in accordance with law. We are not expressing any

opinion on merit of the case on either of the parties. The appeal is allowed to

the above extent.

[Justice Ashok Bhushan] Chairperson

[Mr. Barun Mitra] Member (Technical) akc/nn Company Appeal(AT)(Insolvency) No. 1150 of 2022 Page 3 of 3