Debt' owed to the `Appellant', on account of the
`Devolvement of Letter of Credits' in their (i) Balance Sheets
(ii) Financial Statements ... Return for the year 2017-2018
(F) The Respondent had admitted the `Devolvement of Letter of
Credits', in their Letter dated 03.11.2016, stating
margin. The BG stood invoked on 04.07.2012 and the LCs had devolved
between 11.04.2018 and 10.09.2018 which all pre-dated insolvency
commencement date. Section ... creditors.
The Adjudicating Authority by directing the exclusion of 5% of the devolved
FLC/LC/BG from the asset pool of the Corporate Debtor
under the said NFB Facility and on devolvement of them used to deduct
the amount from the collection account of the Corporate Debtor
maintained with ... Corporate Debtor
maintained by it as 'Financial Institution for any devolvement of Letter
of Credit/ Bank Guarantee and made recovery of an aggregate amount
Ambadi Investments Limited vs M.V.Valli Murugappan on 1 August, 2023
NATIONAL COMPANY LAW
under the said NFB Facility and on devolvement of them used to deduct
the amount from the collection account of the Corporate Debtor
maintained with ... Corporate Debtor
maintained by it as 'Financial Institution for any devolvement of Letter
of Credit/ Bank Guarantee and made recovery of an aggregate amount
that the
said email pertains to intimation to the principal borrower
regarding devolvement of a bank guarantee on 28.02.2018 with
request to principal borrower ... Working Capital Facility dues: Rs.60.87 crore
Non-Fund-Based exposure devolved: Rs.44.34 crore
DSRA (Debt Service Reserve Account) shortfall
that the
said email pertains to intimation to the principal borrower
regarding devolvement of a bank guarantee on 28.02.2018 with
request to principal borrower ... Working Capital Facility dues: Rs.60.87 crore
Non-Fund-Based exposure devolved: Rs.44.34 crore
DSRA (Debt Service Reserve Account) shortfall
that the
said email pertains to intimation to the principal borrower
regarding devolvement of a bank guarantee on 28.02.2018 with
request to principal borrower ... Working Capital Facility dues: Rs.60.87 crore
Non-Fund-Based exposure devolved: Rs.44.34 crore
DSRA (Debt Service Reserve Account) shortfall
Succession, the
property of Late Smt. Manchala Andalamma, was to be devolved upon her
husband Manchala Raghavendra, and further the claim raised by the Appellant ... that it will also be devolving upon her children i.e., Manchala Nagesh
Kumar, the Appellant i.e., Dr. Srinivas Manchala, and Sri Manchala
Raghavendra
Succession, the
property of Late Smt. Manchala Andalamma, was to be devolved upon her
husband Manchala Raghavendra, and further the claim raised by the Appellant ... that it will also be devolving upon her children i.e., Manchala Nagesh
Kumar, the Appellant i.e., Dr. Srinivas Manchala, and Sri Manchala
Raghavendra
