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TMI Blog2019 (11) TMI 1391X X X X Extracts X X X X X X X X Extracts X X X X ..... cement, The Agricultural Produce Market Committee, Bank of Maharashtra, M.K. Shrawat, Member (J) For the Petitioner: Counsel Mr. Jitendra Jain, Counsel Mr. Rohit Gupta, Advocate Ms. Vrinda Tanna Advocate Ms. Nirupama Kar i/b Interjuris for Agricultural Produce Market Committee. For the Respondent: Counsel Mr. Mayur Khandeparkar, Advocate Ayush Agarwala from Krishnamurthy & Co. for the Liquidator. M.K. Shrawat, (A) MA-1846/2019 In CP-1514/2017 1. This is an Application by Mrs. Vandanaben Yogesbhai Patel, the Chairman of Agricultural Market Produce Committee, Vadodara for an Order in respect of the substantive prayers reproduced below :- (b) The Hon'ble Tribunal may be pleased to allow the Applicant to deal with the said property ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as situated within the jurisdiction of the Market Area of the Market Committee. Due to this reason a "Market Fees" was levied on the Castor seeds purchased by the Corporate debtor within the Market Area. However, the Corporate Debtor had not paid the fees. 4. The matter had gone in Appeal, however, the present position is that the Hon'ble Supreme Court by way of Civil Appeal No. 3130-3131 of 2008 dated 29.11.2013 set aside the Order of Hon'ble Gujarat High Court restoring with a direction to examine the validity of the impugned Rule. 5. Admittedly, vide an Order dated 31.12.2018 this Bench has passed an Order for 'Liquidation' of the Corporate Debtor by appointing Mr. S.K. Agarwal as Liquidator. The Applicant (APMC) has su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orkmen for the period of twelve months preceding the liquidation commencement date; (d) financial debts owed to unsecured creditors; (e) the following dues shall rank equally between and among the following:- (i) any amount due to the Central Government and the State Government including the amount to be received on account of the Consolidated Fund of India and the Consolidated Fund of a State, if any, in respect of the whole or any part of the period of two years preceding the liquidation commencement date; (ii) debts owed to a secured creditor for any amount unpaid following the enforcement of security interest; (f) any remaining debts and dues; (g) preference shareholders, if any; and (h) equity shareholders or partners, as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or release/ lifting of attachments (i.e. from 1 January 2019 till the date Respondent Nos. 1 to 7 raise/release the attachments on the assets mentioned in Annexure E) for the purpose of calculating the period for completion of liquidation under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. 2. At the outset, it is worth to place on record that this Application is moved against various Government and Semi-Government Authorities made hereinabove Respondents. 3. It is also necessary to reproduce relevant portions from the Order dated 31.12.2018 passed under section 33(1) and (2) of IBC through which, liquidation was Ordered and the Liquidator was appointed and while passing the Order, made observation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The applicant herein is hereby directed to act as a Liquidator for the purpose of liquidation of Corporate Debtor company with all powers of the Bard of Directors, key managerial persons and the partners of the Corporate Debtor shall cease to have effect and hereby vested in the Liquidator. The personnel of the Corporate Debtor are directed to extend all co-operation to the Liquidator as may be required by him in managing the affairs of the Corporate Debtor. The Insolvency Resolution Professional appointed as Liquidator will charge fees for conduct of the liquidation proceedings in proportion to the value of the liquidation estate assets as specified under Regulation 4 of Insolvency and Bankruptcy (Liquidation Process) Regulations, 2016 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lifted. If the departments have any objections, they can file the same, otherwise Order to this effect shall be passed on the next date of hearing". 5. This Bench is pained to take note of the fact, as affirmed by the Liquidator, that inspite of the clear directions the attachment has not been lifted, thus causing hindrance in the completion of liquidation process. In para 19 of the Application it is recorded as under :- " 19. In fact in a recent judgment of Leo Edibles & Fats Ltd. V. Tax Recovery Officer (Central) IT Dept. Hyderabad & Ors., the Hon'ble Hyderabad High Court vide its judgment dated July 26, 2018, in Section 36(3)(b) held that an order of attachment of a government authority cannot be a bar for completion of the sale of a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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