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Judgment
Heard Shri Manu Kulkarni along with Shri Shristi Widge, learned Counsels for the Petitioner and Shri Anarghya K. Chandar along with Shri Harish Narasappa, learned Counsels for the Respondent.
By perusal of the records, it shows that the case is filed by M/s.Benett Property Holding Company Limited against M/s.SL Plotted Development Projects Private Limited. Learned Counsel for the Respondent submits that since another case is filed in NCLT Chennai Bench against the Guarantor i.e. M/s.Shriram Land Development Private Limited, the instant petition is not maintainable.
Learned Counsel for the Petitioner submits that the case filed against the Guarantor in Chennai is separate whereas present the Petition is filed by the lender against the Principal Borrower. Therefore, it is a prima facie accepted debt. In the present case CIRP can be initiated against the Respondent. It is on record that the lender did not receive any amount either from the Principal Borrower or from the Guarantor. So the instant petition is filed as per law.
Post the case on 04.12.2019.