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TMI Blog2020 (9) TMI 374X X X X Extracts X X X X X X X X Extracts X X X X ..... and set aside and the Canara Bank is directed to hold the amount of ₹ 15.41 Crores, which is said to have been appropriated from the account of Respondent Company, in interest bearing Account - Appeal disposed off. - Company Appeal (AT) No.127 of 2019 - - - Dated:- 12-2-2020 - Justice A.I.S. Cheema Member (Judicial), Justice A.B. Singh Member (Judicial), Kanthi Narahari Member (Technical) For the Appellant : Shri Sunil Fernandes and Shri Darpan Sachdeva, Advocates For the Respondent : Ms. Sneha Arya, Shri Ramakant Gaur and Presana Agarwal, Advocates ORDER Heard Counsel for the Appellant. It is stated that the Respondent Company - Valecha Engineering Ltd. filed M.A.No.907 of 2019 before the learned National Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ench to issue directions to Canara Bank holding current Account No.2677256000011 maintained with Canara Bank, Lokhandwala Branch, Mumbai 400 053 to refund the amount to HDFC Bank in the name of Valecha Engineering Limited holding Account No. 00602230006328 IFSC Code HDFC0000060, Fort Branch, Mumbai so that the refunded amount will be paid to the F.D. Holders. Hence the following order is passed:- ORDER (i) MA No.907/2019 is allowed. (ii) It is directed to Canara Bank holding Current Account No.2677256000011 maintained with Canara Bank, Lokhandwala Branch, Mumbai- 400 053 to refund the amount to HDFC Bank in the name of Valecha Engineering Limited holding Account No.00602230006328 IFSC Code HDFC0000060, Fort Branch, Mumbai so th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the winding up proceeding was pending, the Respondent could not have moved NCLT with such Application MA 907/2019 in the proceeding filed by the fixed deposit holders so as to direct the Appellant to reverse the entries. 4. The learned Counsel for the Respondent is pointing out that the Order dated 1st March, 2018 (Annexure A3) was stayed in Appeal filed by the Respondent Company having Appeal No.126 of 2018 and in the said Order dated 06.04.2018, the Order dated 1st March, 2018 was stayed. The learned Counsel for the Respondent states that the effect was that the Official Liquidator was stopped from taking further actions. The learned Counsel, however, accepts that effect of Section 283 of the Companies Act, 2013 would still be the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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