9911796707
TMI Blog2019 (8) TMI 686X X X X Extracts X X X X X X X X Extracts X X X X ..... 17 on purported ground that there is no default on the part of the Corporate Debtor - Appeal dismissed. - Company Appeal (AT) (Insolvency) No. 94 of 2018 - - - Dated:- 14-8-2019 - Mr. S.J. Mukhopadhaya, Chairperson Mr. A.I.S. Cheema, Member(Judicial) and Kanthi Narahari Member(Technical) For Appellant: - Mr. Saurab Jain, Ms. Neha Gupta, Mr. Mustafa Alam, Mr. Simranjeet Singh and Mr. Siddharth Jain, Advocates. For Respondents:- Mr. Divyanshu Sahay and Ms. Shradha Narayan, Advocates. JUDGMENT Mr. S. Gurumoorthi, filed application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ( I B Code for short) against M/s. Sahara Q Shop Unique Products Range Limited - ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eing one of the Sahara Group Companies cannot pay any amount even to 1st Respondent- Operational Creditor and therefore, no default can be alleged. 4. Learned counsel for the Appellant placed reliance on part of the order dated 21st November, 2013 passed by the Hon ble Supreme Court in Contempt Petition No. 412-413 of 2012 and directed as follows: We are convinced that the order dated 28.10.2013 passed by this Court has not been complied within its letter and spirit. In such circumstances, we direct that the Sahara Group of Companies shall not part with any movable and immovable properties until further orders. We further direct that all the alleged contemnors shall not leave the country without the permissio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent submitted that the orders dated 21st November 2013 and 19th June, 2015, relied upon by the counsel for the Appellant, have no implication on the Corporate Debtor at hand because even after passing of the said orders, the Corporate Debtor has paid salary till September, 2014 until it voluntarily stopped paying; as also Income Tax amounting to ₹ 153,03,53,020 paid on 2nd November, 2015 and Provident Fund amounting to ₹ 7,88,73,464 paid on 30th June, 2016. Besides, Sahara Group Companies have even settled claims relating to Operational Debt amounting to ₹ 20 crores as recently as on 30th April, 2019. The final order dated 30th April, 2019 rendered by the Adjudicating Authority, Mumbai Bench, in C. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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