2019 (9) TMI 331

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... all the dues. However, we direct the liquidator to proceed in terms of the decision in Y. SHIVRAM PRASAD AND ASSET RECONSTRUCTION COMPANY (INDIA) LTD. VERSUS S. DHANAPAL ORS. AND SERVALAKSHMI PAPER LTD. ORS [ 2019 (5) TMI 386 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] wherein a detailed order has been passed as to how the liquidator should proceed - appeal disposed off. - Company .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... tion in absence of any approved plan. 2. Learned counsel appearing on behalf of the Appellant submits that a sum of ₹ 14 Crores was due and out of which a settlement for ₹ 10.38 Crores has been made. Earlier also two Financial Creditors paid total amount of ₹ 37 Crores to Asset Reconstruction Company (India) Ltd. and ₹ 2.5 Crores to L T Finance , who .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... al in S.C. Sekaran v. Amit Gupta Ors.─ Company Appeal (AT) (Insolvency) Nos. 495 496 of 2018 . 6. The aforesaid judgment was also reiterated in the case of Y. Shivram Prasad Vs S. Dhanapal Ors. ─ Company Appeal (AT) (Insolvency) No. 224 of 2018 etc. wherein a detailed order has been passed as to how the liquidator should proceed. 7 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X