2019 (11) TMI 1441

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..... did not have knowledge of the initiation of CIRP process and so the fault cannot be found with the Appellant - HELD THAT:- There are no substance in the arguments of the learned Counsel for the Appellant. Once Section 7 Application was admitted, from commencement date, moratorium got activated and any action of the present nature violating moratorium could not be upheld. In the circumstances, the .....

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..... ppellant and the Appellant in pursuance to the Arbitral Award, proceeded to repossess two trucks belonging to the Corporate Debtor and sold one on 15th March, 2019 and another on 8th April, 2019. The Appellant claims that the Appellant did not have knowledge of the moratorium. It appears, before the Adjudicating Authority (National Company Law Tribunal, Jaipur Bench), the Resolution Professiona .....

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..... Appellant would have no assurance of getting back its money. We do not find any substance in the arguments of the learned Counsel for the Appellant. Once Section 7 Application was admitted, from commencement date, moratorium got activated and any action of the present nature violating moratorium could not be upheld. In the circumstances, we do not find any substance in the Appeal. Now, the .....

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