9911796707
TMI Blog2016 (1) TMI 255X X X X Extracts X X X X X X X X Extracts X X X X ..... tted to realise 30% of the demand and directed to raise the attachment forthwith made on the bank accounts of the petitioner. The second respondent Appellate Authority is directed to dispose of the appeal filed by the petitioner on merits and in accordance with law, after affording due opportunity of personal hearing to the petitioner as expeditiously as possible. Upon realisation of 30% dem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpanies Act, 1956 and is in the business of refilling and processing refrigerant gases. During the course of such business, the petitioner had transactions with the Companies at Singapore for purchase of stakes. However, due to financial fluctuations, the entire stakes could not be purchased as programmed and the petitioner suffered loss to the tune of ₹ 19,53,43,146/-. Thereafter, the petit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the petitioner. Hence, the petitioner is before this court. 4. The learned counsel for the petitioner submitted that the impugned order of the third respondent rejecting the stay petition filed by the petitioner is a non-speaking order and is violative of the principles of natural justice. Further, the learned counsel for the petitioner submitted that the consequential attachment of the bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of the learned counsel for the petitioner that the action of the first respondent, attaching the bank accounts of the petitioner led to paralyze the business activities of the petitioner, has considerable force. Further, the learned counsel for the petitioner, during the course of argument, brought to the notice of this court to the communication dated 16.03.2015 issued by the Joint Commission ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iii) The second respondent Appellate Authority is directed to dispose of the appeal filed by the petitioner on merits and in accordance with law, after affording due opportunity of personal hearing to the petitioner as expeditiously as possible. (iv) Upon realisation of 30% demand as stated above, no further recovery shall be made till the disposal of the appeal by the second respondent. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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