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TMI Blog2020 (9) TMI 1115X X X X Extracts X X X X X X X X Extracts X X X X ..... ot against the CD or against the properties now held by the CD but is against certificate holder banks who are the members of CoC is not maintainable. It is an inter-se claim in between certificate holder banks who received the consideration and the auction purchaser - there are force in the said submission on the side of the applicant/auction purchaser, especially wherein the lead bank representing the CoC showed its readiness to refund the amount. The certificate holder of the bank who are members of CoC are directed to keep the money paid by the applicant with accrued interest @ applicable to the Banks, till the date of refund to the applicant preferably with in two weeks from the date of receipt of this order by the bank. If such an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , in view of initiating CIRP as against the CD vide order dated 14th February 2020, the Recovery Officer, Debt Recovery Tribunal-II, set aside the sale conducted on 3rd September 2019 and withdrew the sale certificate so issued. Despite repeated demand for refund of the amount with interest, the recovery officer has not refunded the amount of ₹ 8,27,02,000/- paid by the applicant against auction purchase of two properties of the Corporate Debtor conducted by the Debt Recovery Tribunal before admission of the CD into CIRP. Hence, filed this application praying for issuing direction to the resolution professional (In short RP) to refund the total consideration amount being ₹ 8,27,02,000/- along with interest at the rate of 18% per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eased to confirm the sale in favour of the applicant herein and directed that Sale Certificate be duly issued in favour of the applicant. 14th February 2020.The Recovery Officer, in consideration of the Corporate Insolvency Resolution process against the said Company was pleased to declare that the sale conducted on 3rd September, 2019 was set aside and was pleased to withdraw the sale certificate and the order confirming the said sale. 29th May, 2020.The applicant by its letter dated 29th May, 2020 has called upon the respondents to make payment of the said sum of ₹ 8,27,02,000/- together with the interest thereon @ 18% per annum. According to Ld. Sr. Counsel, since the recovery officer has no jurisdiction and that DRT has observed i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le to make submissions directly before us due to technical issue, but as directed by me the Ld. Counsel for the RP has spoken to her over phone, and briefed the observation of the AA and the submission of the Ld. Sr. Counsel for the applicant to her. In reply the Ld. Counsel for RP submits that the certificate holder bank is willing to refund the amount. However, no reason advanced as to why not till date the certificate holder Banks refunded the money and unethically kept the money in their hand. 8. In view of the above said submissions on the side of the RP and CoC it is not necessary for me to probe the matter in depth. The applicant has paid the entire sale consideration in respect of both the properties in the account of certificate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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