2017 (12) TMI 1755

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..... quired to be protected - As a consequence, the Directors are directed not to alienate or create any third party right in respect of the declared Assets of the Company and the Assets of the Directors. The Insolvency Resolution Professional can also ear mark and identify the undeclared property, if any, found to be purchased out of the siphoned money of the Company and thereupon on identification .....

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..... rtaining to Intervention Petitions connected with the main Petition which is filed under section 9 of the Insolvency Bankruptcy Code. 2. On behalf of the Insolvency Resolution Professional, Mr. Devendra Padamchand Jain, a Prayer has been made that there is an apprehension that the Directors of the Debtor Company may leave the country and also dispose of the properties. It has also been mentio .....

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..... sional can also ear mark and identify the undeclared property, if any, found to be purchased out of the siphoned money of the Company and thereupon on identification those properties shall also not be dealt with in any manner by the Directors of their Representatives till further Orders of this Bench. 5. Strong apprehension is conveyed that Mr. Omprakash Basantlal Goenka, Mr. Prakash G. Utekar, .....

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