2019 (6) TMI 1395

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..... vrv Chatterjee For The Respondent : B. Dhanaraj ORDER 1. Counsels for both the parties are present. Counsel for the Applicant has submitted that an amount of Rs. 7,64,54,285.20 is outstanding towards the Corporate Debtor as on 04.03.2019. Due to which, he has moved this Application under Section 9 of IBC after fulfilling all the requirements of Section 8 of IBC, by serving the notice on the Co .....

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..... itors including the Applicant herein. Therefore, it has become essential for the Applicant to approach this Tribunal to restrain the Respondent from alienating any of its assets or to create any 3rd party right with a malafide intent of defeating the legitimate claim of the creditor including that of the Applicant. 3. In reply to the Application, the Counsel for the Respondent/Corporate Debtor ha .....

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..... mate expenses required for carrying on the day-to-day expenses. Therefore, this Authority in exercise of the powers conferred under Rule 11 of the NCLT Rules, 2016, restrains the Corporate Debtor and its Directors from alienating, encumbering or creating any third party interest on the assets of the 1st Respondent Company till further orders. 5. The matter stands adjourned.
Case laws, Decisio .....

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