:

; BEFORE THE NATIONAL COMPANY LAW TRIBUNAL

BENCH AT CHENNAI
COMPANY PETITION NO. oF 2019

IN THE MATTER OF
THE INSOLVENCY AND BANKRUPTCY CODE,2016

AND IN THE MATTER OF

APPLICATION FILED UNDER SECTION 7 OF THE INSOLVENCY
AND BANKRUPTCY CODE, 2016 FOR INITIATION OF
CORPORATE INSOLVENCY RESOLUTION PROCESS BY M/S.
AALAYAM & ABHIRUDHI VILLA AND APARTMENT OWNERS
ASSOCIATION, FINANCIAL CREDITOR AGAINST M/S. MANJU
FOUNDATTONS (P) LTD.,
IN THE MATTER OF:
M/s. Aalayam &Abhirudhi Villa and Apartment Owners Association
I Rep. by its Secretary Mr S. Ahand

.. . Applicant/Financial Creditor
-Versus-
M/s. IVIanju Foundations (p) Ltd.,
Rep. by its MD Mr. K. M. Vidhyasagar

.....RespondenVCorporate debtor

INDEX
S.No. Particulars Page No.
I MEMO OF PARTIES 3
APPLICATION FILED TINDER SECTION 7 OF
2 THE INSOLVENCY ANI] ,.,ir(RUpTCy CODE, 4-7
2016.
) AFFID AVIT VERIFYTNG THE APPLICATION 8-9
4. FORM -1 10-13
5 FORM -2 l4-15
RESO LUTION PASIjT r iN F,AVOR OF MR. S
6 ANAND AUTH()IUZ, tC TO SIGN ON BEHALF t6-t7
OF THE APPLICANT,., SSOCIATION
MEMO OF APPEAR ANCI] AND POWER OF
7 l8-21
ATTORNEY
 2

ANI\TEXURE I
a. Copy of Cenificate of Registration of
Association
b. Memorandum of Understanding entered into
, between Corporate Debtor and R.H.L.
KONCRETES dated l5th March,2017
c. Agreement entered into between Individual
8 22-44
home buyers and the Corporate Debtor dated
1 56 March, 201 7

d. Tripartite Agreement between Association,

individual home buyer and R.H.L.
KONCRETES dated I 5'h March,2}l7 .

e. Demand raised for reimbursement of bills paid

for Electricity.

ANNEXURE II
9 45
CAVEAT CLEARANCE
ANNEXURE III
10. 46-47
AFFIDAVIT OF SERVICE
ANNEXURE IV
11. 48
PROOF OF FEE PAID

Date: 28.01.2018 V. Venkata Siva Kumar

Place : Chennai Practicing Chartered accountant
No. l0/1 1, Dr. subbarayan Nagar
Main Road, Near Samiyar Madam,
Kodambakkam Chennai- 24
 3

BEFORE THE NATIQNAL COMPANY LAW TRIBUNAL

BENCH AT CHENNAI
COMPANY PETITION NO. OF 2OI9

TN THE MATTER OF
(APPLICATION FILED UNDER SECTION 7 OF T}IE INSOLVENCY
AND BANKRUPTCY CODE,2016 FOR INITIATION OF CORPORATE
INSOLVENCY RESOLUTION PROCESS BY N'I/S, AALAYAM &
ABHIRTIDHI VILLA AND APARTMENT OWNERS ASSOCIATION,
FINANCIAL CREDITOR AGAINST M/S. MANJU FOLTNDATIONS (P)
LTD.,)

MEMO OF PARTIES
IN THE MATTER OF
M/s. Aalayam &Abhirudhi Villa and Apartment Owners Association
Rep. by its Secretary Mr S Anand

No. 15 1, Sri Ranga,

Mambalam High Road,

T. Nagar, Chennai -600 0l 7

...Applicant/Financial Creditor
-Versus-
IWs. Manju Foundations (P) Ltd.'
Rep. by its MD Mr. K. M. VidhyasagarSindhuja

No. 8 Sapthaswara Apartment,

Itt Avenue, Ashok Nagar,

Chennai - 600 125
....,Respondent/Corporate debtor

Date: 28.01.2018 V. Venkata Siva Kumar

Place : Chennai Practicing Chartered accountant
l,
No. 10/l Dr. subbarayan Nagar
Main Road, Near Samiyar Madam,
Kodambakkam Chennai- 24

D-
/1 d
 4

BEFORE THE NATIONAL COMPANY LAW TRIBUNAL

BDNCH AT CHENNAI
COMPANY PETITION NO. OF 2OI9

IN THE MATTER OF:

lWs. Aalayam &Abhirudhi Villa and Apartment Owners Association

Rep. by its Secretary Mr S Anand

.. . Applicant/Financial Creditor
-Versus-
M/s. Manju Foundations (P) Ltd.,
Rep. by its MD Mr. K. M. Vidhyasagar
.....Respondent/Corporate debtor

APPLICATION FILED UNDER SECTION 7 OF THE INSOLVENCY

AND BANKRUPTCY CODE, 2016 FOR INITIATION OF

CORPORATE INSOLVENCY RESOLUTION PROCESS BY M/S.

AALAYAM & ABHIRUDHT VILLA AND APARTMENT OWNERS

ASSOCIATION, FINANCIAL CREDITOR AGAINST M/S. MANJU

FOUNDATIONS (P) LTD.,

The above petitioner most respectfully showeth:-

I. DETAILS OF APPLICANT:

The petitioner is a Home buyers Association registered under Tamil Nadu

Societies Registration Act, 1975 Vide SI.No.74l2017 dated l6th March,

2017, Having registered office at No. l5l, Sri Ranga, Mambalam High

Road, T. Nagar, Chennai -600 017 represented by its Secretary Mr. S Anand

Filing this application under section 7 of I&B Code, 2016

II.JURISDTCTION OF THE BENCH

The applicants declares that the Corporate Debtor is being registered under

Companies Act at ROC- Chennai vide CIN No

U70101TN2007PTC064719, dated 1210912007 and therefore this

application is filed within the jurisdiction of this Hon'ble Tribunal.

a. c
 5

III, LIMITATION
by the
The applicant declares that the documents relied upon are not barred

Limitations Act, and therefore this application is preferred within the time

limit.

IV. FACTS OF THE CASE

l. The petitioner is a Home buyers Association registered under Tamil

Nadu Societies Registration Act, 1975 Vide SI'No-74 l2Ol7 dated l6'h

March, 2017, represented by its Secretary Mr' S Anand Filing this

application under section 7 ofI&B Code, 2016

2. The CD is a Buitder entered into an agreement with the Home Buyers

for construction of about g2Villa/Row Houses/apartments along with

amenities vide the agreement dated 01"October, 2013 to 0li' October,

2Ol4 promising to complete the construction and handover the

possession on or before 3 1t' March, 20 I 6.

3. The cD as per the agreement should transfer the undivided share of

land and handover the possession of the houses after completing the

construction of the houses along with amenities as pei the terms and

conditions of the agreement (Annexure 2). However, the cD failed to

complete the construction of the houses and also the provision of the

amenities as promised. After lot of bad blood the CD completed the

construction of the residential houses and also registered the

undivided share in favor of the home buyers' The apartments were

incomplete (works still pending) the work on amenities is yet to start.

4. After series of meetings and discussions the CD agreed through a

tripartite agreement comprising of CD, association and an experienced

contractor RHL Koncretes, agreed to complete all the pending works

and hand over the possession of amenities on or before 30'h Sentember

/,.w!
 ,6
2Ol7.lt was also agreed that the CD agreed to bear only Rs. l.l2

Crores and also reimburse the actual cost incurred towards Electricity

charges amounting to Rs. 7 57,479 on or before 15.03.2017. The rest

will have to be bome by the allottees/llomebuyerp. The association

had collected Rs.3 Lakhs from each owner and got the works

completed and raised the demand/invoice for the payment of the

shortfall to the tune of Rs. l, 19, 57,479 as per the agreement.

5. In view of the above, having left with no other altemative remedies it

was decided in the General body meeting held on l5th December,

2018 decided to file this petition initiating the CIRP under Sec 7 of
the I&B Code to get the amounts due on account of the expenditure

mentioned in Para 5 above.

V. RELIEFS SOUGHT:
In view of the above the applicant most respectfuily prays that this Hon'ble

Adjudicating Authority may be pleased to:

Prayer:
a) Order for admitting the Corporate Debtor to the Corporate

Insolvency Resolution Process by invoking Sec 7 of the I&B

Code, 2016

b) Pass such further orders as may be just and necessary in the

facts and circumstances of this case and thus render justice.

VIII. PARTICULARS OF FEE PAYABLEI

Particulars of fee payable and details of bank draft in favor of Pay and

Accounts Officer, Ministry of Corporate Affairs, Chennai as under:

Name of the Bank Bank of Maharashtra

Details of DD 784496

Amount 25,0001-

q ,brA
COUNSEL APPELLANT
 7

DECL TION

I, S. Anand, applicant herein do hereby solemnly declare that nothing

material has bgen concealed or suppressed and further declares that the

enclosures and fyped set of material papers relied upon and filed herewith

are true copies of the originals/true translation thereof'

Verified at Chennai on this 28'h day of January, 2019

I b,4
COUNSEL APPELLANT

VERIFIC ATION

I, S. Anand son of Late M. Shankar aged above 39 years, the Secretary of

IWs. Aalayam&Abhirudhi Villa and Apartment Owners Association,

residing at Villa M4, Aalayam Villa, Kovur Bye Pass Service Road,

Tharapakkam, Chennai - 600 128 do hereby verifu that th'e above mentioned

contents of the captioned application are true and correct to my personal

knowledge and based upon my legal prudence and knowledge and that I

have not suppressed any material facts.

Verified at Chennai on this 28th day of January, 20 l9

COUNSEL
oA. )a
APP ELLANT
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BEFORE THE NATIONAL COMPANY LAW TRIBUNAL
t BENCH AT CHENNAI

I
COMPANY PETITION NO, oF 2019

I APPLICATION TILED UNDER SECTION 7 OF THE 1NSOLVENCY AND

BANKRUPTCY CODE,2016 FOR INITIATION OF CORPORATE I]\SOLVENCY
RESOLUTION PROCESS BY M/S. AALAYAM & ABHIRUDHI VILLA AND
t APARTMENT OWNERS ASSOCIATION, FINANCTAL CREDITOR AGAINST M/S.
MANJU FOUNDATIONS (P) LTD,,
I
IN THE MATTER OF:
M/s. Aalayam &Abhirudhi Villa and Apartment Owners Association
i Rep. by its Secretary Mr. S Anand '
..,ApplicanVFinancial Creditor
I -Versus-
Ivl/!. ManJu Foundotlonr (P) Ltd.,
i Rep. by its MD Mr. K, M. Vidhyasagar
..... Responden/Corporate debtor
I

II
I / A')
 9

VERIFICATION AFFIDAVIT
I, S.Anand son of Late M. Shankar aged about39 years, residing at Villa M4,

Aalayam Villa, Kovur Bye Pass Service Road, Tharapakkam, Chennai - 600

128 do hereby solemnly affirm and sincerely state as follows:

l. I am the authorized signatory of the Applicant/ Financial Creditor and I

have been duly authorized and competent to swear to this aflfidavit on its

behalfvide Board Resolution dated l5/1212018

2. That I have gone through the contents of the accompanying appeal,

contents of which are true and conect to the best ofmy knowledge and the

contents thereof are read-over and explained to me and I have understood

the same.

3, The appeal has been drafted by my counsel under my instructions, which

are not being repeated here for the sake of brevity and be read as part and

parcel of the present affidavit,

4. The siatements made in paragraph I to VI of the application filed on

behalf of the application herein are true to my knowledge and be f

)
DEPONENT
VERIFICATION:

Verified at Chennai on this 28th day of January, 2019 that the

contents of the above affidavit are true and correct to my knowledge and

nothing has been concealed there from.

DEPONENT
 lo
Form I
(l) of rule 4)
(See sub-rule
APPLICATION BY FINANCIAL CREDITOR(S) TO INITIATE CORPORATE
INSOLVENCY RESOLUTION PROCESS LNDER THE CODE.

(Under section 7 of the Insolvency and Bankruptcy code,20l6 read with Rule 4 ofthe
Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules,20l6)
28.0t.20t9
To,
The National Company Law Tribunal
Corporate Bhawan,
II Floor, North Beach Rd, Marurady,
George Town, Chennai,
Tamil Nadu 600001

FrouL
IvVs. Aalayam & Abhirudhi Villa and Apartment Owners Association
No. 515, Sri Ranga,
Mambalam High Road,
T. Nagar, Chennai -600 017

In the matter of lvl/s. Manju Foundations (P) Ltd.,

Subject: Application to initiate corporate insolvency resolution process in the matter of M/s.
Manju Foundations @) Ltd., under the Insolvency and Bankruptcy Code, 2016.

Madam/Sir,
lws' Aalayam & Abhirudhi villa and Apartment owners Association, hereby submit this
application to_initiatej cgrpgrt: insolvency resolution process in rhe matrer of tws. M*iu
Foundations (P) Ltd., The details for the purpose ofthis application are set out belowl

Part I
PARTICULARS OF APPLICANT
I NAME OF FINANCIAL CREDITOR M/s. Aalayam & Abhirudhi Villa and
A artment Owners Assoc tion
) DATE O F INCOR}ORATION OF l6th march, 2017
FINANCIAL CREDITOR
3 IDENTIFI CATION NUMBER ut Sl. No.74l2017
FINANCIAL CREDITOR
4 ADDRESS OF THE REGISTERED Sri Ranga, N o. 5 15, Mambalam High Road,
OFFICE OF THE FINANCIAL T. Nagar, Chennai -600 017
CREDITOR
5 NAME AND ADDRESS OF THE Mr. S. Anand
PERSON AUTHORISED TO
SUBMIT APPLICATION ON ITS
BEHALF
CLOSE AUTHOzuSAT ION
6 NAME AND ADDRESS OF NA
PERSON RESIDENT IN INDIA
AUTHORISED TO ACCEPT THE
SERVICE OF PROCESS ON ITS
BEHALF
ENCLOSE AUTH ORISATION

Part II
PAR TI C U L ARS o F T HE C oRPO RA TE D E B T o R
I NAME OF THE CORPORATE M/s. Manju Foundations (P) Ltd.,
DEBTOR

I
 t'l

2. IDENTIFICATION NUMBER OF u70 I 0l TN2007PTC0647 t9

CORPORATE DEBTOR
1 D ATE OF INCORPORATION OF t2/09/2007
CORPORATE DEBTOR
4 NOMINAL SHARE CAPITAL AND NA
THE PAID.UP SHARE CAPITAL
OF THE CORPORATE DEBTOR
AND/OR DETAILS OF
GUARANTEE CLAUSE AS PER
MEMORANDUM OF
ASSOCTATTON (AS
APPLICAB
5. ADDRESS OF THE REGISTERED #8, Sapthas wara Apts, J &L,Znd, Floor, lsr
OFFICE OF THE CORPORATE Avenue, Ashok Nagar, Chennari TN 6000g3
DEBTOR IN

Part III
PARTI CU LARS o F THE P R o P OS ED INTERIM RE S oL U T I o N P R o FE SS I o N A L
I NAME, ADDRESS, EMAIL V VENKATA SIVA KUMAR
ADDRESS AND THE IBBI/IPA-oo I /IP-p00 I 84/201 7-l 8/10852
REGISTRATION NUMBER OF THE 10/l I Dr. Subbrayan Nagar,
PROPOSED Main Road, Samiyar Madam
INTERIM RESOLUTION KodambakkamM,
PROFESSIONAL Chennai -600024
arunasn. st ail.com

Part IV

P ARTI c ULARS o F'IN AN c IAL D EBT

I TOTAL AMOUNT OF DEBT Rs. I,l9 ,57,479 as per agreement datedJ5h
GRANTED DATE(S) OF March, 2017.
DISBURSEMENT
) AMO UNT CLAIMED TO BE IN Rs. 1,19,57,479 as per agreementtilAJfl
DEFAULT AND THE DATE ON March 2017.
WHICH THE DEFAULT
OCCURRED
(AITACH THE WORKINGS 'FOR
COMPUTATION OF
AMOI.INT AND DAYS OF
DEFAULT IN TABULAR FORM)

Part v
PARTI C ULARS o F FIN AN CIAL D EB T [DOCUMENTS, RE C o RD A N D VID
s E ENCE
o F DE FA U L T
I PARTICULARS OF SECURITY NA
HELD, IF ANY, THE DATE OF ITS I
CREATION, ITS ESTIMATED
VALUE AS PER THE CREDITOR.
ATTACH"A COPY OF A
CERTIFICATE OF RECISTRATION
OF CHARGE ISSUED BY THE
REGISTRAR OF COMPANIES (IF
THE CORPORATE DEBTOR IS A
COMP
2 PARTICULARS OF AN ORDER OF NA
A COURT TRIBUNAL OR

b
 t't--

ARBITRAL PANEL
ADJUDICATING ON THE
DEFAULT, IF ANY
(ATTACH A COPY OF THE
ORDER
3. RECORD OF DEFAULT WITH THE NA
INFORMATION UTILITY, IF ANY
(ATTACH A COPY OF SUCH
RECORD
4 DETAILS OF SUCCESSION NA
CERTIFICATE, OR PROBATE OF A
WILL, OR LETTER OF
ADMINISTRATION, OR COURT
DECREE (AS MAY BE
APPLICABLE), UNDER THE
INDIAN SUCCESSION ACT, I925
(10 oF 1925)
ATTACH A COP
5. THE LATEST AND COMPLETE NA
COPY OF THE FINANCIAL
CONTRACT REFLECTING ALL
AMENDMENTS AND WAIVERS
TO DATE
ATTACH A COP
6. A RECORD OF DEFAULT AS NA
AVAILABLE WITH ANY CREDIT
INFORMATION COMPANY
ATTACH A COP
7 COPIES OF ENTRIES IN A NA
BANKERS BOOK IN
ACCORDANCE WITH THE
BANKERS BOOKS EVIDENCE
ACr, t89l (18 OF t89l) (AT'|ACH
ACO
8. LI ST OF OTHER DOCUMENTS a Certifi cate of registration of Association
ATTACHED TO THIS
APPLICATION IN ORDER TO b Resolution passed authorldng Mr. S. Anand
PROVE THE EXISTENCE OF
FINANCIAL DEBT, THE AMOLNT c Memorandum of Understanding entered
AND DATE OF DEFAULT
between Corporate Debtor and R.H.L.

KONCRETES dated I 5'r' March, 201 7

d Agreement entered into between Individual

home buyers and the Corporate debtor dated

l5n March, 2017

e. Tripanite Agreement between Association,

individual home buyer and R.H.L.

KONCRETES dated l5n March, 201?.

f, Demand raised for reimbursement of bills

paid for Electricity.

LM
 t9

is fully qualified
I, hereby certify that, to the best of my knowtedge, Mr. v. Venkata Sivakumar,
andpermittedtoactasaninsolvencyprofessionalinaccordancewiththelnsolvencyand
Bankruptcy Code, 2016 and the associated rules and regulations'
lWs'Aalayam&AbhirudhiVillaandApartmentownersAssociationhaspaidtherequisitefee
for this application through Demand Draft on 23'01'2019 , I

il.4
Yo(us sincerelY

Signature of person authorized to act on behalf

of the financial creditor g )A
or to
creditor
Address of
 lLf

FORM 2

( (rn de r ru te e or th e rn,.[i:: ;!;;E ]il:if#'i l)pp n, o, i o, to A dj u di c a t i n g

Authority) Rules, 201 6)
WRITTEN COMMUMCATION BY PROPOSED INTERIM RESOLUTION
PROFESSIONAL
Date:28.01.2019
To,

The National Company Law Tribunal

Corporate Bhawan, II Floor,
N Beach Rd, Mannady,
George Town, Chennai,
Tamil Nadu 600001

From,

V VENKATA SIVA KUMAR

lrBBr/rpA-oo1 /Ip-p00184/201 7_ I 8/1 08s21
10/l I Dr. Subbrayan Nagar,
Main Road, Samiyar Madam
KodambakkamM,
Chennai -600024

In the matter of IWs. Manju Foundations (p) Ltd.,

Subject: written communication in connection with an application to initiate

corporate Insolvency Resolution process in respect of M/s. Manju Foundations
(P) Lrd.,

Madam/Sir,

I, V VENKATA SIVA KUMAR, an insolvency professional re gistered with

IIP A lcArl having Registration number IBBI/IPA-00I fip-po0r84/zor7-
18/10852 have been proposed as'the Interim Resolution professional by IWs.
Aalayam & Abhirudhi villa and Apartment owners Association connection
with the proposed corporate Insolvency Resolution process of M/s. Manju
Foundations (P) Ltd.
In accordance with rule 9 of the Insolvency and Bankruptcy (Application to
Adjudicating Authority) Rules, 2016, I hereby:
(i) Agree to accept appointment as the interim resolution professional ifan order
admitting the Present application is passed;
 rr
(ii) state that the registration number allotted to me by the Board is IBBI/IpA-
00rflP-P00184/2017-18/10852 and that I am currently qualified to practice as an
insolvency Professional:
(iii) Disclose that I am currently serving as an interim Resolution
Professional/liquidator in two proceedings;
(iv) certiff that there are no disciplinary proceedings pending against me with the
Board or IPA ICAI
(v) Affirm that I am eligible to be appointed as a Interim Resolution
Professional in respect of the corporate Debtor in accordance with the provisions
ofthe Insolvency and Bankruptcy Board oflndia (Insolvency Resolution process
for Corporate Persons) Regulations, 2016;
(ui) Make the following disclosures in accordance with the code of conduct for
Insolvency Professionals as set out in the Insolvency and Bankruptcy Board of
India (Insolvency Professionals) Regulations, 20 I 6,

V VENKATA SIVA KUMAR

lrBBVrpA-oo I trp-p00184 t2017 _t8t to8s2l

I, hereby, certi0/ that the facts averred by the applicant in the present application are
tue, accurate and complete and a default has occurred in respect of the relevant
corporate debtor. I.have reached this conclusion based on the following facts
and/or
opinion:-

a. Certificate of registration of Association

:
b. Resolution passed authorizing Mr. S. Anand
c. Memorandum of Understanding entered between corporate Debtor and R.H.L.
,1 KONCRETES dated 156 March,2017
d. Agreement entered into between Individual home buyers and the corporate
debtor dated l5s March,20l7

e. Tripartite
Agreement between Association, individual home buyer and R.H.L.
. KONCRETES dated 15e March,20l7.
Demand raised for reimbursement of bills paid for Electricity.

V VENKATA SIVAKLMAR
IBBI/IpA-o0 1 /Ip -p 00 184 t20 I 7_ I 8/ I 0852
 tb

Aalayam&Abhirudhi Villa &

Apartments Owners Associatior

EXTRACT OF THE RESOLUTION ADOPTED BY THE MEMBERS OF

TI{N AALAYAM & ABHIRTIDIII YILLA AI\ID APARTMENT OWNERS
AssocrATroN rrELD ox rstopcoMBER, 2018

RESOLVED THAT ttrc consent of the members of Aalayam &Abhirudhi villa and
Apartment Owners Association (herein after called Associatioo) be and is hereby
accorded to authorise lv1r. S. Anand Jo Late M. Shar&ar, Secretary {herein after
called as secrAary)of our Association to represent tbe Associatioa iu tbe petition to
l
be filed against lWs" Ivlanju Foundations (P) Ltd., Rep- by its lvD Mr. K. M'
Vidhyasagarbefore the tlon'ble Nationat Company t aw Tribgaal under pmvisions
oflnsolvency ad banknrptcy Code, 2016-

RESOLVED FIIRTHER TILAT in tbe abserrce of NIr- SAnasd the seretary,the

President Mr. IC Vairarilrthuis autborized to nominate any other person to

represent th€ Associatbn in the proceedings ag3iBst IvI/s. fvlaniu Fouedatioas (P)
L*d., Rep- by irs MD Mr- K- N{- Vidhyasagar before tbe llon'bl,e }.lational
Company 1a1v 1i!,nal rurder provisions of Insolvency and baakruptcy Code,
2016.

' RESOLVED FURTHER THAT Mr- S. Anan4 the Smetary of the, association be
aod is bereby authorised to engage any Practising Chartered 'dccountant or other

eligible persoos to submit Vakalanrama, Memo of Appearance ar tf,e case may

Addrc.r:- rsd Rrn!r', No.151, Mrm brl.m Hlgh Ro.d, T f{r8.t, Ch.nn.l - 6qxlu.
Emalh4g!.a59g!93! on@Pmail.com Phone! 28!14753
 l.l
Aalayam&Abhirudhi Villa &
Apartrnents Owners Associatior

be,statements, Documents, Evidences, declarationsetc. before the appropriate

authorities/Court and/or the police authorities for and on behalf of the company as
and when required and to enter into any compromise, settlement of case he may
consider appropriate in the interest ofttrc company"

Dated at Chennai on this l56day of December, 2018

By o rde r of mem bcrs

President
rtr*X
Vice Prcsid€et
*VA {?,h*J^
Secrets.ry Treasurer

Exccutive Comnittcc ncmbers:-

7)"9,**J,^'.,r-

(
I

Addre3r:.'Srl R.ng!', No,151, Mem brlam Hlth Road, T [{eEar, Chennrl - 8O017.
EmtllFe@!.a!r998!!on@ttr3jlsg!! Phoneh 281t14753
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FORM NO. NCLT. 12 No.22, 6, SAtFfllel {OtO;

t vAo^ PArAt[ cxcrH^l . 600fll
(see rule 4S)
Memorandum of appea rance
To
$e Registrar,
National Company Law Tribunal,
Chennai Bench,

II the matter of

nDr' A"ruy"r & Abhirudhi V,ta and Apartment owners Association

&p. by its Secretary Mr. S. Anand

I ... Applicant/Financial
Creditor

Ivfrs. Man;u Foundations

,ar r,r.,-ut"t"-
O, its MD Mr. K. M. Vidhyasagar
V
.....RespondenVCorporate
debtor

it
 t1
c.P. NO of 2019

Sir,

Please take notice that I, V Venkata SivaKumar, Practicing Chartered Accountant, duly

authorized to enter appearance, and do hereby enter appearance, on behalf of Mr. S. Anand

Secretary of M/s, Aalayam & Abhirudhi Villa and Apartment Owners Association petitioner

in the above mentioned petition.

rA copy of Power of attorney authorizing me to enter appearance and to act for every purpose

connected with the proceedings for the said party is enclosed, duly signed by me for

identifrcation.

Yours sincerely,

Dated at Chennai on this 28'h day ofJanuary, 2019 Address

No. l0/1 I, Dr. subbarayan Nagar
Main Road, Near Samiyar
Madam,
Kodambakkam, Chennai- 2

Enclosure: as aforesaid Tele No.: 9444185500

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€gtl r nfu zo$' L. No. 12l44lgg/90.30-9-97,
51 14A, Arcot Ro€d, Porur,
I Ch.nn.l-l 16. Ccll: 9tt443 00806

POWER OF AT'TORNEY TO REPRESENT BEFORE THE HON'BLE NCLT

t CHENNAI

I
Mr. S Anand son of Late M. Shankar Authorized signatory of M/s Aalayam & Abhirudhi

f,illa and Apartment Owners Association registered under Tamil Nadu Societies

flegistration Act, 1975 vide SI. No: 74n|n daad l6'h March, 2017 and having its

No l5l, Mambalam High Road, T' Nagar' Chennai-600 017'

fegistercd office at Sri Ranga

hereby authorize Mr. V. VENKATA SMKUMAR, Practicing Chanered Accountant'

f
Vo Late V S Gandhi aged above 50 years, residing at No l0/l I Dr' Subbaraya Nagar Main
E

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Road Kodambakkam, Chennai 600 024.
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1. To appear before the Hon'ble NCLT Chennai, and make representations on behalf of the

Ms Aalayam & Abhirudhi Vilta and Apartment Owners Association.

2. To make necessary conections, additions, deletions, and modifications in all applications,

forms, retums and other documents filed"/ to be filed with the Registrar of the Hon'ble

NCLT Chennai.

3. To deliver/collect any document/certificate which may be required/issued by the Hon'ble

NCLT Chennai Bench.

4. To do all such acts deeds and things and take such actions as he may deem necessary'

Signed and executed at Chennai on this 28d day ofJanuary,2019

For IWs Aalayam & Abhlrudhi Villa and Apartment Owners Association

,)
S
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Anand
(Authorized Signatory)'

Attested signatures of power of attomey holder:

WITNESS

1.

a
 a9,

Form No. II
(See Rule 8 Of the TamiNadu Societies Regisration Rules,l978)

CERTIFICATE OF REGISTRATION I,JNDER SECTION IO OF TIIE TAMIL NADU

ACT, t97s (TAMIL NADU ACT 27 OF 1975)

CERTIFICATE OF REGISTRATION OF SOCIETIES-

Sl. No. : 74 12017

I hcreby Certifr that

MLA.YAM & ABHIRUDHI VILLA & APARTMENT OWNERS ASSOCIATION
. TrfARAFAIffAi,/l

has this &y becn Rcgistercd Undcr Thc Tamil Nadu fiocictics Registration Act,l975

(Iamil Nadu Act 27 of 1975).

Gven under my hand at CIfiNNAI SOUTH

this 16 th &yof Mueh 20t7

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MEMORANDUM OF TNDERSTANDING

This Memorandum of Understanding is entered on this 15d day of March 2017 by and between,

ld/s. MANJU FOUNDATIONS (P) Ltd., having its registered office at No. 8, Sapthaswua
AparEnent, I't Avenue, Ashok Naga, Chdnnai - 600 083, represented herein by its Managing
Direcrtor, Mr. K.M. Vidhyasagar, S/o. Mr. M.K. Mathivathanan, aged 39 years, hereinafter called
the P,arty of the FIRST PART OR lvIFPL, which term shall mean and include wherever the
contqF so requires or permits its successors-in-interest and assigns ofthe FIRST PART:

and

ur.M.Murali, Sole Proprietor, R.H.L KONCRETES (lvlanufacturers of Designer Tiles, Rubber

Mould Pavers, Hydraulic Pavers, SFRC Manholes, Solid & Hollow Blocks, Kerb Stones and
FIyaCh Bricks) No-6/119, Banaveduthottam, Thandarai Road, Poonamallee, Cherurai 600 056
hereigaffer refened to as the Party of the Second Part or RHL and the same shall mean and
include wherever the context so requires or perrrits, their respective heirs, successors-in-interest
and $signs of the SECOND PARTi

-\
l tv1 -4 For L.KON

ProPrietor
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 2
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whereas MFPL, the Party of First Part' intbirdba. ro d€ilelbp a vi$t,(serni Indiip'€ndent
villa,/Apartments projects narned as Aalayarn along with a housing plots layout narned as
Abhirudhi sihrated at Tarapakkam & Tand:alam Vi,lrlhges, $riperumbudur Taluk, Kaflshipuani
Dist. and the same were sold to various buyers. Also fiiep.aity of First par( is developing, a vil{a
project "Havisha" situated at Pennalur village, Sriperumbudur Taluk, Kanchipuram District.

Wlrereas the Party of First Part had corne:adfpsfi yafious hurdles dUr-ing ffqgrossion of,
construction works which .ld ,to;tlelay; of Aalayam vi'lla*enii
independent villa,/apartments had: come wor&s
on amenities& infiastructure' at their costi"and d&!fisesr{lpsn,tlfe o,vgaels,agreeing to- spendnan
additional amount towards completing ar,nenities as6 other .iiGas.&uctrees at ttre proj,eqt
Aalayam/Abhirudhi, herewith MFPL had agr6ed to sdhtri,bute k. l. r29 crores towards
amenities & infrastructures (detailed specifica'tions are,. enclosed herewith) to the contactor
Ms.RHL, the Party of Second Part herein

At the outset, the Party ofSecond Part agreed to a total contractual work valued at Rs.9.79 crores
towards Aalayam Project in completing construction ofall 92 houses togcther with all prescribed
amenities and infrastructures. As of today an ajRount of ps.7.528 crores stands payable by
owners of entire 82 houses (apart ftom x0 korases ,,btlonging to land facilltator Mr.s.Rao)
shortfalt if any in receiving payrnents ftom, Rs.ft5'DSr,clores shall be coropensated by the first
part. Majority of owners in the project, had contributed themselves as members of Association
which had consented to collect payable outstanding dues of Rs.7.528 crores from owners at part
stages and facilitate paymcnts to the party of second part at stipulated constuction levels which
are broadly agreed by separate signed aontact among owner, Association & contractor
Iv{/sRHL. 2.L62
qt
Therefore, an amount of Rs.2.262 crores is required to be paid to party of second part by pany l.z/'
of First Part and the following propelties shall be assigned equivalent to Re.2.262 crores worth
which were agreed by party of second part, to come forward and enter into this Understanding
and commence its activitiEs.

Description of properties:

a Aalayam villa No.Ll worth Rs.91 lakhs Ei(clusive of Registration (booked by one,
Mr.Rengaraju who has remitted Rs.41.00 lalths to party of First part). It was negotiated by party
of second part with the said Mr.Rangar{u, who agreed to cancel his vi.lla allotmcnt and take
refund of Rs.4l lakhs. The party of second part undertakes to refirnd Rs.4l lakhs to
Mr.Rengaraju who shall withdraw from project and therea.fter the pafty of First part shall
arrange to register this said property to lWs.RHL or hjs nominee.

b'The Party of Second Part agrees to complete conskuctionof 133 villas at Havisha project at
Pennalur Village, Sriperumbudur Taluk with in 210 days from the date of signing of this

(t'^-\ ',,; R.H.L.KON

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ry rietor
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+8legment. 'staods p4yable by 133 villa purchasers to

to complete constructions works, as per
rofHbffiiBtut,agrces to do balance pending construction
'uP*$ase9&ths{Edn&!!We}'&r$}d:Sfuaa*g@.1aaqd<s value at tu,8.00 crores which is
only for the
fu6estructure charges, provision of EB
dli{_!ges dedoit arnount on collection on 133 Villas at
Havisha.kqiect'shafi be,@t riv &e,&mr o8thp Fint parr alone. beyond the sum of Rs.g crores
'brou$trin'rby,RHL.

The Farty of First Part shall extend its fillest co-operation in collecting payments from villa
owner.vfirnding institutions enabling the party qf second part to complete Havisha & Aalayam
Projects on agreed time schedule. In so far as Aalayam project is concerned, all the works shall
be completed within l20,.days frorm the date,of tvfp,L registering Ll villa in favour of RHL or
its nominee. Thus an qpgrgrt of Rs.1.154 cror.gs q.Fprox generated excess tbrough this project
shal{ be added andisecouffed, to the cost of works, payable for Aalayam project to the party of
Second Part. !{owever, the said excess smoult of Rs.l.l54 crores being tansfened to Aalayam
Project is subject to realisation of, amornts from the customers of the Havisha project only.
Therefore, for liability of Rs.2.262 cror&s, vahre of p.roperty in (a) ps.50 lakhs and value
of
constuction rin (b) Rs.1.154 orof€s.are aqcaunted leaving behind (c) Rs.6O.8 lakhs payable
to
Party'of Second Part.

c. Thus for balance payable Rs.60.8 laklx, properties plot

no. 22 to 40 measuring about 37,350
sq.ft, at Aanaipakkanr vil'lage, near Kanakamachatram shall be assigred to the party of
Second
Part, registration expenses shall be borne by the party of the Second part.

The party of second part, hereby agree to or+n above cited properties as against
the amount worth
to the value in completing construction, amenities & infrastructures for the entire Aalayam
projec! while the Owners, Asssciation thEnein shal,l be solely responsible in collecting
balance
payable dues from eqch Owner of the house Except 19 Houses
which has been enclosed,
directing payments to the party of second part and in all respects the party
of sccond part shall
deliver.possession withinL80 days from sigring this MeU.

The Pary of Second Part shall monitor at its own intcrest lr,ith the purchasers
and their funding
irstitutions pertaining to Havisha project in arranging disbursements as and when
constuction
stage(s) comPleted. Customer relationship works for co-ordination with
customers should be
taken care by both Parties. The Party of First Part shall a$ange to rcmit
all loan disbursements of
Havisha Project to its bank - punjab Nadonal Bank, A,/c.No.2510002103010982,
KK Nagar
Branch, Chennai
which will be ,transferred iEtqEtanesusly to t&eracqount of the palty of Second part.

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The Party of Second Part had taken up v/orks at projects of Party of First Pad
viz.:- Swamadhara Gmnd City (9askdn1.
Havisha, etc who hereby agrces that W ,Eli,Bt'Part for any such
contracl works anyu'here else in the

The Party of Socond Part hercby agee to wai eoff r€tlxtim advance, atfioutts in oonsltucdon
works ifany held by the Palty of First Part.

Whercas both the pqrties mutually agree to withdraw civ.il suirs if aly, corrplainu lodged by
them in respect of projects as they bilateral,ly inclined to prooead smoothly aod accompli.sh their
mission discussed and agreed in this Memorandum of Understanding.

Thus both the Parties agr€e to the above,con&acl.ara4fa'b.i{iiies.so ,far above.discussed on this day
and sign before the wiuresses herein below:

'-'1r I_.KO NCRqTES

4 f'U.' \. C
PARTY OF THE SECOND PART PARTY OF THE FI,RST PART

WITNtrSSES:

,
ua*$)
$W,

'4"r1*#{!'!-"*
#kli'mtxcituM
Encl.
l.List ofoutstanding amounts payable tluough Aalayarn Project.
2.List of amenities and infrastrueture wor.k to be done at Aelayam Project.
3.List of outstanding amoun8 pa1'able tluoug! X&amiehaproject
4 . List of diagrarns/drawings - Aalayam-prqiqgf@Z aos.)Fdilly siped .by the Llg.Director ,the
Pany of the Firt Part with seal of the conrpa$y.

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Licence No: azt3i4,t?,t

AGREEMENT

THIS AGREEMENT is entered into at Chennai on this the 15ti day of

E
between : March, 2OL7
at'

Mr. S.Anand S/o. Late M. Shankar aged about

38 years residing at Kavithalaya West -t
Minister. Apartment, No.569/1, Z".d Ftoqr, "8", T L- .r ,)
n Muin no"O, Sortf, Ram Nagar, f,-:l i,
I"^Il"Itl, Chennai - 600091, hereinafter cafled the p"nv or,n"
"pARTy oF THE
''E.'D 1 a
J
FIRST PART', which term shall mean
<E
F
assigns of the ONE pART :
and include wherever the context so requires or
permits his/her legal representa ves, executors,
administrators, nominees and o,l !
:a) d r:-

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AND
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fi M/s.. MANJU FOUNDATIONS (p) Ltd., having its LlII
registered office at No. 8r oo.
Sapthaswara.Apartment, 1't Avenue, Ashok Nagar, lr- <
Chen;ai - 600 Og3, represented
F herein by its Managing Director, Mr. K.M. Vldhyisagar,
Sfo. Nr. l,f.f. Mathivathanan,
aged 39 years, herernafter cafled the pa.tv pi
tl,e sebolro pnnr, which term sha
mean and lnclude wherever the context so requires
or permits its successors_in_
interest and assigns of the erubtten pAnf ,

! For MANJU FOUNDATTONS_trFI1TD.

,( \/
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EV Managing Dir€ctor ryM"

09
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AND

MT.M.MURALI, Sole Proprietor, M/s.R.H,L. KONCRETES, S/o,Mr.C.Munirathinam,

Hindu, aged 45 years, carrylng on business at No.6/l 19,Banaveduthottam,
Thandarai Road, Poonamallee, chennai 600 056, hereinafter called the Party of the
THIRD PART, whlch term shall mean and lnclude wherever the context so requires
or permits his helrs, legal representatives/ successors-in-interest and assigns of the
OTHER PART:

AND

Aalayam & Abhirudhl Villa & Apartments owners Assoclation, sltuated at Srl Ranga,
No.151, Mambalam Hlgh Road, T Nagar, Chennal - 600017, represented by lts
Secretary, Mr,S.Anand, s/o.Mr, M.Shankar, Hlndu, aged 38 years, hereinafter called
the Association/Party of the Fourth Part, whlch terms shall mean and include
wherever the context so requires or permits lts successors-in-interest and asslgns of
thE LAST PART :

WHEREAS the PARTY OF THE FIRST PART is the owner of the Plot No,M4 measuring
1044 sq.ft. in the project'AALYAM" at Tharapakkam Village, Srlperumbudur Taluk,
Kancheepuram olstrlct, by way of absolute Sale Dated 07.10.2013 registered as Doc.
No.6762 of 2013, on the file of SRO, Pammal, and;

WHEREAS the PARTY OF THE SECOND PART ls the Promoter developing the aforesald
project 'AALAYAM", comp;'ising of Villas and common amenities and facllities, and;

WHEREAS in by a Construction Agreement dated 01.!0,2013, thc PARTY OF THE

nRST PART, also entrusted the sald plot to the PARTY OF THE SEEONO PART for
construction of lndcpcndent House, comprlslng of Ground, Flllt rnd Second Floor,
having a total super bullt up area of 2017 sq.ft., mutu!lly flxhg the cost of
constructlon @ Rs.35,29,750/-, the land development chargeS @ Rs,2,20,780/- and
amenitles charges @ Rs.21,58,190/-, ln all Rs.59,08,720/- <.-:-- 4 ----
THE PARTY OF THE FIRST PART has so far paid a sum of Rs.74r74,720lj,6 uJ(- 6)r |"ho,f <
- orl' q
Q5 Tl,roo,ooo/-
WHEREAS the constructlon of the independent House, comprlslng of Ground, First
and Second Floor, having a total super bullt up area of 2,077 sq.ft., morefully
described in the Schedule hereunder, ls now in seml-flnlshed condltlon, and;
o!? ti
WHEREAS in this scenarlo, unfortunately, due to present economlc condltlon, THE >-
.- o ./\ 5_
:!'
PARTY OF THE SECOND PART, expressed lts inablllty to complete the constructlon Etn I tn
-u, I -
and go out of the project and also expressed no objection for the PARTY OF THE
FIRST PART, to complete the construction of Vllla and all pendlng common amenltles
and facilities, through the PART OF THE THIRD PART, and;
E""lg
<s sa) -E=
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WHEREAS the facilitate and ensure prompt payments to the PARTY OF THE THIRD
PART and also at the same tlme ensure prompt completlon of the common amenitles Ef e3;
and facllitles, the PARTY OF THE FOURTH PART ts also Jointng the execuHon of these il6 ..E
presents, and;

WHEREAS the PARTIES have also agreed for such course, subject to certain terms
fE
rr<
\n'H
and conditions, whlch are reduced to writing as hereunder: -

FoT MANJU FOUNDAT Lro. For R.H.L.KONCRETES

f}3'!P.]
( H b4'
IM Managing Oirector *oprlet'Jt
 aq

NoW THrS &6F,€EMJ:NT WTTNESSErH AS FOTLOWS:

1. The Party of the First Part is the owner of the semi-finished lndependent
House, comprising of Ground, First and Second Floor, havlng a total super
built up area of 2,017 sq.ft. in the project 'AALAYAM' at Tarapakkam
village, more fully descrlbed in the Schedule hereunder.

2. THE PARry OF THE SECOND PART who has so far developed the Schedule
mentloned property, has thls day exlted the project and expresses no
objectlon to the PARTY OF THE FTRST PART, to complete the construction
through the PARTY OF THE THIRD PART.

3. The PARTY OF THE SECND PART is hereby relieved of all its obligations
under the Constructlon Agreement wlth the PARTY OF THE FIRST PART,
reterred to herelnabove, except and save the followlng :

i) THE PARW OF THE SECOND PART has undertaken to complete

the formation of roads and street lights by taking appropriate
action/steps wlth the local body concerned, at its cost and
ensure that the same is completed by 31.5.2017 latest.
However, in the event of THE PARTY OF THE SECONO PART
being unable to complete the same by the said agreed date,
viz., 31.5,2017, then it is expressly agreed that the PARTY OF
THE Fourth PART, without any notice to the PARTY OF THE
SECONO PART take up the pending works on these accounts
and complete the same at its cost, subject to the pARTy OF THE
FIRST PART contributing proportionately. The expenses so
incurred by the PARTY OF THE FOURTH PART is agreed to be
reimbursed by the PARTY OF THE SECOND PART within 30 days
from the date of being seryed with the final bill in this regard
without any demur or protest,

ii) The PARTY OF THE SECOND PART has atready applied for EB
service connections and certain meters have also been provlded
by the Electricity Department and any dues, if any, in this
regard up to this date shall be the liability of THE pARTy OF
THE SECOND PART only. It is however made Elear that any
dues arising on and from today shall not be the liability of the .€ -E
o
PARry OF THE SECOND PART, )=(! Oo a
E9l 6'
iii) The Party of the SECOND PART has undertaken to register the E(/, I
I D
ol
=<
Land for common amenitles in the name of the party of Fourth :;-1/D
Part wlth in 7 days from the date of signing the agreement. The
€erg €
=

4. AII accounts
detailed schedule here under

,between the PARTIES oF THE FIRST and SEcoND PARTS

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have been settled in full and there are no mutual clalms against each
other, in any manner whatsoever, excepting the saving clauses set out in (to s
Clause 3(l), (ii) and (ttl) hereinabove, In so far as the monies already .e€
collected by the pARTy OF THE SECONo PART etther on account of the 8P
villa construstion or the cost of provision of the common amenities and
fACiIitIES, thE PARTY OF THE SECOND PART ANd the PARTY OF THE THIRD
PART have already agreed to adjust / settle the same between themselves

For MANJU FOUNDATIONS (p t2-- F.'r: R.H'L KOf ie "'i' ' 'l
(
gM t H NL\
'ProPrtctu:'
Managing Oirector
0
4

5. THE PARTY OF THE THIRD PART undertakes to complete the construction

of the Vllla as well as the common amenities and f6cllltles wlthin 120 days

tO thE PARTY OF THE FIRST

PART and PARTY OF THE FOURTH PART making prompt payments as per
the agreed tlme schedules amongst themselves under a separate
Trlpartlte Agreement being entered into amongst themselves with legard
to the scope of work of the PARTY OF THE THIRD PART, role of the PARTY
OF THE FOURTH PART, costs lnvolved, tlme schedule for payments as well
as completlon of the construction of the vlllas as well as the common
amenitles and faclllties.

6, This Agreement is IRREOVCABLE.

IN WITNESS WHEREOF all the four parties herelnabove have slgned thls Agreement
on the day, month and the year first above written, ln the presence of:

hl
WITNESSES:

1) PARTY OF THE FIRST PART A-

PARTY OF THE SECONO PART.
2)
PARTY OF THE THIRD PART

PARTY OF THE FOURTH PART

For MANJU FOTJNDAT toNs\(P,lrtr j',.,r R.H'L.KONCRE i !;i:l

\
Managing Director
rY. $
Proprietor

ForAalayam &Abhirudhi Villa &

Apartments Owner's Association

{ \r4*---
Seeetary / Authorised Signatory
 3l

All that piece and parcel of the plot

l{o. t{1, measuring to an extent
Sq.lt., comprised in Sunrey o.l08/l past, of lSSl
in tie proiect narned as
,ffiJff;"frH1. at rharaPakkam il;: s,i'p..u-uua," ruur,

Boundary and adrneasure

on the
NORTH By : Vacant Land,
19 Feet 3 Inches
SOUTH By : plot No.N2,
31 Feet,
EASTBy : Vacant Land, 65 Feet,
WESI BY : 24 Feet Road. 58 Feet 6 Inches,

IIDM NO.2:.STP

All tJ:at piece and parcel of

l{o.
T"_"r:,part, BG, measuring to an extent of 93o
sq.It., comprised in Survoy No.t62
PIIASE - m, situated al: Thandalam ;;;;"*;;ed
,, as ..AALArAM
village' sriperumbudur Taluk,
IGncheepuram Diskict.
Boundary and admeasure on
the
NORTH By : 24 Feet Road,
29 Feet 3 Inches,
SOUTH By : Vacant Land,
42 Feet 3 Inches,
EAST BY : Vacant Land,
14 Feet 6 Inches,
WEST BY : 20 Feet Road.
55 Feet.

ITEMNO. S -,CLI'B tIOUqE

All that piece and parcel of the plot

t{os, A6 (826 Sq.Ft.} and A? (gS?
admeasuring lz6a sq.ft, comprised sq,Ft.),
in OItt survey n".irr
Survey No.l27l2, in the project
naned as "ABHIRU;HI AvE[uE,
r.r, and New
Tharapakkam Vilage, Sriperumbudur situated at
Taluk, X"rr.ir""pr."_ Oi"t.i"t.
O.E B
Combined Boundaries and
admeasure on the s= i6
NORTH By : Vacant Land, 47 Feet 2lnches
53..
.-o I 6
(,
SOUTH By : plot No.AS,

_aa:!" : 20 Feet Road,

WEST BY : Vacaat Land.
22 Feet 8lnches
55 Feet 7 Inches
E&l;
.i-a \
49 Feet 4 7z Inches .O(l) l5 =
lE_\ <
E;{\ E'
For MANJU FOUNDATIONS (P) LTD.
, \,/
It ".-'z- \
tgt"$
,?e
.a Managing 0irector
A,1
Iror R.H.L.KONCRETES

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ilFims TAMILNADU BG 77 4342

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Licrllce No: /r2i354t

! q4FnR:r,irrrE AcREErr,rENT

THIS TRIPARETE AGREEMENT ts entered into at

Chennai on this the lSrh day of
-March, 2017 between :

& Abhirudhi Villa & Apartments Owners Association,

l"l:11,
No.151,
situated at Sri Ranga,
_Mambatam High Road, T Nagar, Chennai _ OOOOfi represented by Mr. S
Anand, Secretary herei.after called the ASSOCIATION
E

PART,
7 eaniv OF THE FTRST

E
Mr. S.Anand S/0. Late M. Shankar aged about
38 years residing at Kavithalaya West
Mlnister. Apartment, No.56g/1, 2"0 iloor, "8",
E
76 t"tain no"O, Sor,tr Ram Nagar,
Chennai - 600091,
L11i1*!:lt
THE SECOND PARTi
hereinafter ca ed as ,r,"-;ownrn
/ pARw oF
t AND

t MT.M.MURALI, Sole proprietor, M/s. R. H. L, KONCRETES, S/o. Mr.C.Muntrathinam,

Hindu, aged 45 years, carrying en business
Than daral Road, poonanrallee
at No.6/l lg,Banaveduthottam
For' Chennal 600 O 56, herelnafter called the
OF TTIE THIRD PART,
rb .i r rr ,'r il.L i{()N(_'Ft}_i'i F :::,

u /{,.----o
secreuf,r, '/Attthorise.r 9, M ry.il" 1r
I

s;^^^,- -.
q
2

WHEREAS the TETMs, "PARTY OF THE FIRST, SECOND AND THIRD PARTS,, ShAII
mean and include wherever the context so requlres or permlts hls/her legal
representatives, executors, administrators, nominees, successors-ln-lnterest, and
assigns of each PART, and;

WHEREAS the PARTY OF THE FIRST PART ls the Assoclatlon formed by the vllla
Owners of the I project 'AALAYAM" at Tharapakkam / Thandalam Village,
Sriperumbudur Taluk, Kancheepuram District, and;

WHEREAS the PARTY OF THE SECOND PART is the Owner of the land and semi-
finished Building'bearlng Plot No.M4 in the Project 'AALAYAM" at Tharapakkam
Village, Sriperumbudur Taluk, Kancheepuram Dlstrict and the member of the PARTY
OF THE FIRST PART/ASSOC|AI|ON, ANd;

WHEREAS the PARTY OF THE SECOND PART had entrusted the construction of
lndependent House, along with develoPment of common amenities in the project lay
out, to a PROMOTER, M/s. Manju Foundatlons, who subsequently durhg the
progress of development opted out of the project and qult from the contract,
expressing "No objectlon" for the PARTY OF THE SECOND PART to complete the
pending and incomplete works through the PARW OF THE THIRD PART hereln and h
fact the parties to thls Agreement have already entered lnto a separate Agreement
on 15.03.2017 wlth the sald Manju Foundations (P) Ltd., clearly settlng out the
mutual obligatlons and rlghts of the parties hereto vis-e-vls wlth the sald Manju
Foundations (P) Ltd., and;

WHEREAS the PARTY OF THE SECOND PART / Owner and PARTY OF THE FIRST
PART / Associatlon, have ldentlfled the PARTY OF THE THIRD PART/ Contractor, who
was ln fact a contrcctor under Manju Foundatlons (P) Ltd', for tha vsry same proiect,
to complete the pandlng lncomplete constructlon of Independent house and also
common amenltles and facllltles in the Project 'AAI-AYAM " st Tharapakkam /
Thandalam Vlllage, Srlperurnbudur Taluk, Kancheepuram Olstrlct, morefully
described ln the Schedute hereunder, on payment oj aPpropriate
consideration,/charges, for whlch, the PARTY OF THE THIRD PART has also agreed,
and;

WHEREAS after several round of dlscussions, the PARTIES have come to an

arrangement, whlch they desire to reduce to wrltlng for purposes of convenlence and
clarlty, the following terms and conditlons being reduced to wrltlng as hereunder:-

NO!t, THIS MEMORANDUM OF UNDERSfANDING WITNESSEIII AS FOLLOWS!

1, THE PARTY oF THE SECOND PART ls the Owner of the semi-finished

Independent House, bearing Plot No.M4, comprising of Ground, Flrst and
Second Floor, in the project 'AALAYAM', Tharapakkam Village, Sriperumbudur
Taluk, Kancheepuram District.

2. THE PARTY OF THE THIRD PART shall endeavor to complete the construction
of semi-finished independent House/Vllla and also all the pendlng common
facillties and amenltles whlch are more fully set out in Annexure -I to this
Trlportite Agreement, wlthin 120 days from this date, subject to the PARTY OF
THE SECOND PART maklng prompt payments as per the Payment Schedule
mutually agreed upon between the PARTIES OF THE FIRST AND THIRD PARTS
is more fully set out ln Annexure - II to this Trlpartlte Agreement.

For AalaYam & Abhirudhi

Mlla &
Fcr II.H.L.KONCRETES
Apafimenis Owner's Assoctaron
l"l'14'
5: \"tL-)
Secreiary / Authorised Srgnatory
4- )d 'piCDfi,.i!.j
 311

3. The PARTY OF THE SECOND PART has this day paid a sum of Rs.36,200/-
(Rupees Thlrty Six Thousand Two Hundred Only) representing 5% of the total
remainlng cost of the project, vide cheque No.808158 dated 01.03.2017
drawn on SBT, Ashok Nagar Bran.h, the reccipt of which srrm, the PARTY OF
THE THIRD PART admits and acknowledges. It is also agreed between the
parties that this advance amount shall be adjusted at the time of plumbing
and tiles work being carried out ln the Vllla of the PARTY OF THE SECOND
PART.

4. The parties have also whole heartedly agreed to adhere to the following
arrangement to glve confldence to the PARTY OF THE THIRD PART regarding
prompt payments at the end of the PARTY OF THE SECOND PART:

Ii) All
payments to be made by the PARTY OF THE SECOND PART to the
PARTY OF THE THIRO PART, other than the advance betng paid today shalt be
deposlted by way of cheques in the name of the pARTy oF THE THIRD PART,
as per the time/payment schedule set out in Annexure-II hereunder and
accord i the PARry OF THE SECOND PART has this da y deposited
thQcuF ..-A$.cuFt,
iffegseiqq .: +.,Eittj
.
SBI Ashok Nagar B0 8159 27 -Yar17 223801

respectively with the PARTY OF THE FIRST PART to be reteased/handed over

to the PARTY OF THE THIRD PART at the approprtate stage compteuon /date
set out ln Annexure - Il hereunder whlchever ls later. It ls however open to
thE PARTY OF THE SECOND PART, iN SUCh EVENT Of thc PARTY OF THE
sEcoND PART depending on bank/financlal tnsutuuon for release of
payments, to have the cheques replaced or substituted accordingly, at the
same ensuring that the payment schedule is honored at any cost, to ensure
completion of the project ln all respects.

5. THE PARry OF THE FIRST PART has taken the onus of negotiating with the
eadler Developer, M/s, Manju Foundations (p) Ltd., and also bringing in the
PARTY OF THE THIRD PART to take over the project and complete not only
the Villas but also the common amenities and facilities agreed to be provtded
by the earlier Developer. The list of common amenities to be provided
/completed by the pARTy OF THE THIRD PART are more fully set out in the
Annexure-I to this Agreement.

6 Notwlthstanding any payments that may have been made to the earlier
Dev.eloper, considering the current scenario and taking into account all
relevant factors, especially the crisis that the pARTy oF THE sEcoND
PART/OWNER and the PARTY oF TI,IE FIR,ST PART/ASSoCIATIoN have |anded
themselves ln, it has been whole heartedly agreed that the cost of provision
of common amenltles and facllitles has been worked out in detall wlth the
PARTY OF THE THIRD PART and the proportionate cost to be met by the
PARTY OF THE SECOND PART ts as follows:-

(i)
. H;1T'?31{;1"'::,'i,,".",'H'i
PARTY OF THE SECOND PART across
lI: ;::" 1?:::[;,:J',1 il:
the execution of this
Agreement, in favour of the pARTy oF THE THIRD PART/
For Aalayam & Abhirurt,.. r,, .
to. the pendins completion of
tontt*tt'on .enable^iln -meet
":-ol-t::t:-:' of house oF THE sEcoND PART'
Apartments o*n"i'r'ir,,. - .-. ,.,
r'..,i't
S,rlar-
Secretary / Authorised Signatory sc ,1,*:,
 3E
4

) Rs...NIL belng the excess amount avallable wlth the PARTY OF

THE SECOND PART having not paid the same to the earlier
Developer, lYanju Foundatlons, also transferred thls date, to the
PARTY OF THE FIRST PART tO ENAbIE thEM tO MEEt thE
common exPenses and,
(rii) Apart from the above payments, conslderlng the fact that the
detay has also resulted in spurt ln the costs of constructlon and
labour, additional sums have become necessary and lt has been
agreed upon between the PARTIES th6t the PARTY OF THE
SEcoND PART/ the Vitla Owner, besldes, the llabllities set out
herelnabove in i) and ii) shall also addltlonally make a payment
of Rs. 3,OO,oOO/- (Rupees three lakhs only) to the PARTY OF
THE FIRST PART, ln order to facllltate smooth and timely
completlon of the provision of common amenltles. Accordingly,
the PARTY OF THE SECOND PART has this day pald a sum of
Rs. 3 Lakhs to the PARTY OF THE FIRST PART by means of a

cheque dated 0l/03/2077 drawn on Clty Unlon Bank,

Sembanarkoil Post, bearlng No.001049.
(iv) All and anv oavments and rnonev traftsactlons shall bg onlv
throuoh Bank A/c.No. 60271882268 wlth Ba'nk of Maharaihtra'
T Naoar Branch whlch has been set aDar't fgr thls Drotect

7. THE PARTY OF THE THIRD PART agrees to comPlete all the pending and
incomplete amenltles and facilities ln the entire project 'AALAYAM, morefully
set out in Annexure-I to thls Agreement, wlthln 120 days from thls date' The
amounts and time llnes regarding payments to be made to PARTY OF THE
THID PART by the PARTY OF THE FIRST PART/ASSOCIATION ls more fullv set
out in Annexure -ll.

the PARfi OF THE THIRD PART or his nomlnee.

8. tn the unlikely event of the earlier Developer, Manju Foundatlons (P) Ltd., not
belng able to complete the formatlon of roads and street llghts by 31.5.2017
as promlsed by them, then the additional costs of the provlslon of the same
shatl have to be met by the PARTY OF THE FIRST PART from end out of the
available corpus and ln case of any shortfall, the PARTY OF THE SECOND
PART shall be liable to bear the same ln equal proportlon wlth all the other
Villa Owners. However, thls factor being uncertaln as on date, thls clause is
incorporated only as an agreement in prlnclple and the actual amounts that
may be incurred and pald wlll be worked out by the PARTY OF THE FIRST
PART, whose declslon shall be flnal and bindlng on the PARTY OF THE
SECOND PART.

9. Subject to the prompt payments belng made by the PARTY OF THE SECOND
PART, the PARTY of the THIRD PART shall complete the vlllas wlth ln 120 days
from the date of slnging of this agreement and also provision of the common
amenities and facilities with in 120 days from the datlE 6F iEtistta$o$' 6f Ll
y:jlb-However, a grace period of 30 days shall be given to the PARTY OF THE
THIRD PART in thls regard on account of delay being occasioned as a result of
any delay because of Acts of God or delays at the hands of the local
agencles'
For Aalayam & AbhiruEqCWOo'qnment
Apartm€nts Owner's As:' . .. .
Fc; R.H.L.KONCIIETES
(
5:TML> 9- P)
Secretary /Authorised Srgrrat'-( Y
 ?b

10. The PARTY OF THE THIRO PART agrees to give a warranty to the PARTY of the
SECOND PART for the unFinished work done for 6 months from the date of
handing over of the house.

11.The PARry OF THE FIRST PART ls entitled to collect and retain the original
documents of tltle pertaining to the Schedule Villa till such time the pARTy OF
THE SECOND PART discharges his/her monetary obligations set out in
Annexure-Il to this Agreement as a measure of security alone for prompt
payment of the agreed instalments on the respective dates set out in
Annexure - II.

12.In the event of default on the pARTy OF THE SECOND PART in payments as
per the agreed Schedule, the pARTy OF THE THIRD PART shall be enttued to
claim/charge interest at the rate of 18 o/o p.a. on the delayed
instalment/amount. Simllarly, lf the pARTy OF THE THIRD PART, Is unable to
complete the works in full, on or before 30.09.2017 or also within the grace
period of 30 days, if avaitable, the pARTy oF THE THIRD PART agrees to pay
a compensation at the. rate of Rs.25,000/- per month to the pARry oF THE
SECOND PART till such time the project is completed in all respects, i.e. a
Items set out ln Annexure-I hereunder,

sclrEpuLq

All that piece and parcel of Land measuring 1044 sq.ft. or thereabouts together with
seml-flnlshed bulldlngs thereon ln the project narn€d as "AALAYAM", comprised in
Survey Nos, 108/1 part of Tharapakkam Vlllage, Sriperumbudur Taluk,
Kancheepuram Dlstrict,

Ar\NExuBE _ r
(Scope of works to be conlpleted by the party of Ure ThirrJ part)

Sl No..
1 Swimming pool 40'10" x 13'9 " -56 1 sq.ft, Toilets & Dressing Room, Fencing &
Paver Block Surroun dlng, a ll th e relevant equlpment's, Clvil work for
operation.
2 U House G+2 Floors
3 Co mpound wa I

4 Road ot m en a fra n ged fro m lt n o n b M a nj u I rou ps o n v

sTP (75 KLD ) i nCl e s S a I e D f a n S Co n ne .t n s o and its complete
CIVIL Work and equ ipment's required for operatign.
i5 Electrici In put Cables for llas & Transformer to Pillar post.
Z
Elevati on Gate & Arch

';r"tl*ltl&*ls*::ilii R.H.L.KOI{CRETI'S
tl*X---->-
f-r"*on I Authorised srgnatorY
r1;*'
q- ,4
"1
6

ANNEXURE .II
(Payment schedule)
wlll pletlon.
Except 5Yo the rema

36,200

223801
2soooo

Agreement on the
IN WITNESS WHEREOF the parties herein have slgned thls sale
presence of:
day, month and the year first above written in the

WITNESSES:

tl B, GrqruA PARTY OF THE FIRST PART

PARTY OF THE SECOND PART.

2)

PARTY OF THE TITIRD PART

. For R.H.L'KONCRETES
H#sil.ffilxi*::*ii
.t f),L--'
\-_J l
SignatotY
Secretary / Authorised
tM
 z8
t (
[!r r\" J
a

'f-.
Aalayam & Abhirudhi a &
1: Apartments Owners Asso on

066 August, 2018

T,r,

M '. K.M. Mdhyasagar

Director, M/s. ManJu Foundation p Ltd
Nrr.8, Sapthaswara Apartment 2d Floor,
First Avenue, Ashok Nagar, Chennai .
600093

Dear Slr,

sub:- Inumaflon of Non'oavment bf-Electrlqrrv

charg* crcmporaryt rurrrresuon,
connecuon) -
Kundrathur - Demana oi ns.z,sLqlgt:Gii;
r"girttn ''"""-"' Nouce Recel\
NoEce Recerved from A.E.

with reference to the above, we have recelved

thls nouce from the AE Kundrathur with a demand
Rs.6,u,479l- & lnctdenral charges of *r.rfqOOOl-l -rfr"
. _", ,n" o.,,iJ oF

"f
- Connection N0.234.000,968 - Demand of Rs.3,49,796/-
lgn1recron No.234.007.1349 _ Demand or ai.zi,siil-
F6 Connecuon usage (38,054+ 1,54,000L
Total 'es.A,it,izsj-'--
1tr,Gt- (Connedion
- ' No.O9-234-025_3374)

The above dues were related.to the non-payment

of electri city charges commenci ng from 2016.
34 new connectlons applied for the EB Connection Already the
has been disconnected a nd on the request
associaUon the EB was not discon nection from our
and AE had glven time for EB payment whlch
side ftom the year 2016. Thls has been already lnU is not paid from your
mated to Mr. Balaji and You rself through whatsa pp.
secure the EB connecuon and avoid dlsconnecdon TO
at ful'ayam Viltas. Rowhouse & Flat,
lmmedlatelv.

ThankJng You,

For Aa layam & Abhlrudht Villa & ApartmenE

Owners Assoclatien

President
/
vaira Mutthu K.
Secretary
# K,Gr"*,'0.
Ganesh
Treasurer

Address:-',Sri Ranga,, , No.151, Mambalam High Road,

T Nagar, Chennai - G00017.
Emrllr aaab,assoclafl on@emall.com pho ne:- 28144753

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 q(
BEFORE THE NATIONAL COMPANY LAW TRIBUNAL
BENCH AT CHENNAI
COMPANY PETITION NO. oF 2019

IN THE MATTER OF
(APPLICATION FILED L]NDER SECTION 7 OF THE INSOLVENCY
AND BANKRUPTCY CODE,2016 FORINITIATION OF CORPORATE
INSOLVENCY RESOLUTION PROCESS BY M/S. AALAYAM &
ABHIRUDHI VILLA AND APARTMENT OWNERS ASSOCIATION,
FINANCIAL CREDITOR AGAINST IvI/S. MANJU FOL,NDATIONS (P)
LTD.,)

IN THE MATTER OF:

IWs. Aalayam & Abhirudhi villa and Apartment owners Association
...APPIicanVFinancial Creditor
-Versus-
IWs. Manju.Foundations (P) Ltd.'
.....Respondent/Corporate debtor

CAVEAT CLEARANCE

To,

The Registrar,
National Company Law Appellate Tribunal
New Delhi
Sir,

No caveat has been liled in the instant matter and therefore,

no caveator is required to be served a coPy of the instant appeal'

Date: 28.01.2019 V. Venkata Siva Kumar

Place :.Chennai Practicing Chartered accountant
No. 10/1 1, Dr. subbarayan Nagar
Main Road,
Near Samiyar Madam,
Kodambakkam
Chennai- 24
 tlb
BEFORE THE NATIONAL COMPANY LAW TRIBUNAL
BENCH AT CHENNAI
COMPANY PETITION NO. OF 2019

IN THE MATTER OF
THE INSOLVENCY AND BANKRUPTCY CODE,2016

(APPLICATION FILED UNDER SECTION 7 OF THE INSOLVENCY AND

BANKRTIPTCY CODE, 2016 FOR INITIATION OF CORPORATE
INSOLVENCY RESOLUTION PROCESS BY I\4/S. AALAYAM &
ABHIRUDHi VILLA AND APARTTvIENT OWNERS ASSOCIATION,
FINANCIAL CREDITOR AGAINST lvf/S. MANru FOIJNDATIONS (P) LTD.,)
IN THE MATTER OF:
I\Os. Aalayam &Abhirudhi Villa and Apartment Owners Association
Rep. by its Secretary Mr S. Anand

"'Applicant/Financialcreditor
-versus-
lWs. Manju Foundations (P) Ltd.,
Rep. by its MD Mr. K. M. Vidhyasagar
.....Respondent/Corporate debtor

AFFIDAVIT OF SERVICE

I, S .Anand son of Late M. Shankar aged abo.ut39 years, residing at Villa M4,

,, Aalayam Villa, Kowr Bye Pass Service Road, Tharapakkam, Chennai - 600 128 I

am the authorized signatory of the ApplicanV Financial Creditor and I have been

duly authorized and competent to swear to this affidavit on its behalf vide Board

Resolution dated 1511212018 do hereby solemnly affirm and sincerely state as

follows:

I .I most respectfully submit that, I have sent a copy of Form I and present

application along with all the annexure thereto to the Colporate Debtor on

28.01.2019 and we are enclosing the receipt of the service of the same.
 q-l

VEzuFICATION

I, the above named Applicants/Financial Creditors hereby verify the above

contents are true based information available

Dated at Chennai this&$n day ofJanuary, 2019 A k>

Applicants

I
 tqg

BEFORE THE NATIONAL COMPANY LAW TRIBUNAL

BENCH AT CHENNAI
COMPANY PETITION NO' OF 2OI9

APPLICATION FILED UNDER SECTION 9 OF THE INSOLVENCY AND

BANIRUPTCY CODE, 2016 FOR INITIATION OF CORPORATE
INSOLVENCY RESOLUTION PROCESS BY G. JAWAHAR AND G.
ASWINI OPERATIONAL CREDITOR AGAINST M/S EXEMPLARR
WORLDWIDE LTMITED

In the matter of
l![/s. Aalayam & Abhirudhi vilta and Apartment owners Association
Rep. by its Secretary Mr. S. Anand
.. . Applicant/Financial Creditor

-Versus-
a
1Ws. Manju Foundations (P) Ltd.'
a Rep. by its MD Mr. K. M. Vidhyasagar
.....Respondent/Corporate debtor

PROOF O F FEE PAID

Particulars of fee payable and details of bank draft in favor of Pay and Accounts

Officer, Ministry of Corporate Affairs, Chennai as under:

Name of the Bank Bank of Maharashtra

Details of DD : 784496

Amount Rs.25, 000/-

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FOR VALUE RECEryEO
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