2021 (9) TMI 1309 - Tri - Companies Law

Seeking ad interim relief against the Corporate Debtor as well as the another Financial Creditor of the Corporate Debtor being Yes Bank - HELD THAT - Learned Counsel for the Corporate Debtor accepts notice and makes a statement that as on date, the Corporate Debtor is in possession of the immovable property assets of the company. Issue notice to Yes Bank. Learned Counsel for the Corporate Debtor also undertakes to file reply within two weeks. In the meantime, both the respondents should maintain status quo with respect to assets of the company. List on 15.11.2021.

Summary

The Tribunal allowed the corrected copy to be filed by the Financial Creditor due to a typographical error in the main application. An application seeking ad interim relief against the Corporate Debtor and another Financial Creditor, Yes Bank, was also accepted. The Corporate Debtor is in possession of the company's immovable property assets. The Corporate Debtor agreed to maintain status quo with respect to the assets, and Yes Bank was issued notice to respond within two weeks. The case is listed for further hearing on 15.11.2021.