9911796707
TMI Blog2019 (6) TMI 767X X X X Extracts X X X X X X X X Extracts X X X X ..... n independent proceeding has nothing to do with the pendency of the Criminal Case relating to misappropriation of the funds by the Chief Financial Officer of the Corporate Debtor and the employees of the Banks. The Bank which is the Financial Creditor is a separate entity from the Chief Financial Officer of the Corporate Debtor or the individual employees of the Bank(s), if any, involved. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondents : Mr. Anant A. Pavgi and Mr. A. Anand, Advocates for R-2 (IRP). ORDER This appeal has been preferred by Mr. Neeraj Jain, Shareholder of M/s. Namo Alloys Pvt. Ltd. - ( Corporate Debtor ) against the order dated 25 th March, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, init ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It is further submitted by the learned Senior Counsel for the Appellant that there are five Financial Creditors (Banks) but four of them have not joined with the Respondent Bank and are co-operating with the Corporate Debtor for recovery of amount fraudulently withdrawn from the account of the Corporate Debtor . 5. It is further submitted by learned counsel for the Appellan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng heard Mr. Darpan Wadhawa, learned Senior Counsel for the Appellant and Mr. Anant A. Pavgi, learned counsel for the Interim Resolution Professional , we are of the view that an application under Section 7 being an independent proceeding has nothing to do with the pendency of the Criminal Case relating to misappropriation of the funds by the Chief Financial Officer of the Corporate Debtor and ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
