9911796707
TMI Blog2019 (3) TMI 959X X X X Extracts X X X X X X X X Extracts X X X X ..... cifying the place of visit for a period from 19.02.2019 to 24.02.2019. The respondent has also failed to produce any evidence of the recent past about the conduct of the present applicant (respondent No. 2 ). Moreover, it is the domain of the liquidator to raise objection, if any, when the company is already under liquidation. It is pertinent to mention herein that as per Section 35 of the IBC, the moment, the order of liquidation is passed, the Liquidator takes into his custody or control, all the assets, properties, effects and the actionable claims of the corporate debtor. It is only the Resolution Professional and/or Liquidator as the case may be, is/are competent to file an application before the Adjudicating Authority under sections 60(5)(c), 66 and 67 of IBC. Under the facts and circumstances and the discussions in sequel, we do not find any reason for not granting permission to the present applicant (respondent No. 2) to attend the wedding ceremony of his friend's son for a limited period. However, with abundant caution, we hereby direct the present applicant to furnish Indemnity Bond of ₹ 5.00 lakhs and the surety of a like amount with the Registry of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to mention herein that the said order was passed without giving any opportunity of hearing to the present applicant as the respondent (Applicant of IA 287 of 2018) was pressing hard for granting of ad interim relief only with respect to restraining the present applicant from going abroad. 4. That now, the present applicant has filed this application seeking permission to travel to Abu Dhabi UAE for attending the wedding ceremony of the son of his close friend for a period from 19.02.2019 to 24.02.2019. 5. That the Applicant submitted, that the allegations made in IA 287 of 2018 are false and fabricated. It is further stated in the application that the documents which are annexed along with IA 287 of 2018 are of 2011 and moreover they have no relevance in the instant case, besides, they are not certified copies. Such an act of the respondent, is the result of some personal vendetta against the board of directors of the respondent No. 1 Company BIL. 6. It is further submitted by the Ld. Counsel of the present Applicant that the respondent had suppressed the material facts, that, vide order dated 15.5.2018, the Special Judge CBI had granted permission to one of the directors ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arge of Liquidator. The Liquidator has not approached this Bench for seeking any relief against the present applicant. The respondent (applicant of IA 287) is the operational creditor and if at all, he has any claim against the suspended management of the Company BIL which is under liquidation, the respondent is supposed to put his claim/grievances before the Liquidator. Before proceeding further, it is expedient to go through the sections 60(5)(c), 66 and 67 of the IBC under which IA 287 of 2018 is filed. Sections 60(5)(c), 66 and 67 of IBC is reproduced hereunder: Section 60(5)(c): (5) Notwithstanding anything to the contrary contained in any other law for the time being in force, the National Company Tribunal shall have jurisdiction to entertain or dispose of- (a) (b) . (c) any question of priorities or any question of law or facts, arising out of or in relation to the insolvency resolution or liquidation proceedings of the corporate debtor or corporate person under this Code. Section 66 - Fraudulent or malicious initiation of proceedings 66(1) If during the corporate insolvency resolution process or a liquidation process, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... road. In fact, the respondent (applicant of IA 287) has not produced any clinching evidence against the present applicant (respondent No. 2 of IA 287 of 2018) so as to make any ground to restrain him from travelling abroad and/or for attending wedding ceremony of his friend's son. All the allegations are only against third party. 16. That the present applicant has filed his travel program along with e-invitation card specifying the place of visit for a period from 19.02.2019 to 24.02.2019. 17. The respondent (applicant of IA 287 of 2018) has also failed to produce any evidence of the recent past about the conduct of the present applicant (respondent No. 2 of IA 287 of 2018). Moreover, it is the domain of the liquidator to raise objection, if any, when the company is already under liquidation. 18. It is pertinent to mention herein that as per Section 35 of the IBC, the moment, the order of liquidation is passed, the Liquidator takes into his custody or control, all the assets, properties, effects and the actionable claims of the corporate debtor. For the sake of brevity, Section 35 of the IBC is reproduced below: Section 35 - Powers and duties of Liquidator 35.(1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs entitled to a distribution of proceeds under section 53: Provided that any such consultation shall not be binding on the liquidator: Provided further that the records of any such consultation shall be made available to all other stakeholders no so consulted, in a manner specified by the Board. Thus, it is only the Resolution Professional and/or Liquidator as the case may be, is/are competent to file an application before the Adjudicating Authority under sections 60(5)(c), 66 and 67 of IBC. 19. Under the facts and circumstances and the discussions in sequel, we do not find any reason for not granting permission to the present applicant (respondent No. 2 in IA 287 of 2018) to attend the wedding ceremony of his friend's son for a limited period. However, with abundant caution, we hereby direct the present applicant to furnish Indemnity Bond of ₹ 5.00 lakhs and the surety of a like amount with the Registry of this Tribunal. The present applicant is also directed to inform this Bench immediately through his authorised counsel, after return from his overseas trip to Abu Dhabi, UAE. It is further directed that the applicant shall produce order of this Ben ..... X X X X Extracts X X X X X X X X Extracts X X X X
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