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TMI Blog2020 (10) TMI 483X X X X Extracts X X X X X X X X Extracts X X X X ..... the orders of the Hon'ble Supreme Court make it clear that there cannot be any alienation of movable or immovable property in the light of the order dated 21.11.2013 passed by the Hon'ble Supreme Court. Petition rejected. - CP (IB) No. 1881/MB/C-IV/2019 - - - Dated:- 28-4-2020 - Rajasekhar V.K., Member (J) And Ravikumar Duraisamy, Member (T) For the Appellant : Prachi Wazalwar, Advocate For the Respondent : Shyam Kapadia i/b PSL Advocates Solicitors ORDER Ravikumar Duraisamy, Member (T) 1. This is a Company Petition filed under section 9 of the Insolvency Bankruptcy Code, 2016 ( IBC ) by ISS Facility Private Limited ( the Operational Creditor ), a company within the meaning of section 2(20) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ; (b) A total of fifty-nine invoices were raised on the Corporate Debtor from time to time. The invoices were payable within thirty days from the date of receipt of each invoice. (para 8 at page 6 of the Petition); 5. Invoices have been placed on record as Exhibit 'D' at pp. 36-95. The invoices provide for interest in case of delayed payments, to be charged at the rate of 18.00% per annum. Bank statements are attached as Exhibit 'C' at pp. 26. The total debt due and payable to the Operational Creditor is ₹ 9,78,68,925.51 (Rupees nine crore seventy-eight lakh sixty-eight thousand nine hundred and twenty-five and paise fifty-one only), as mentioned at page 25 of the Petition. 6. The Operational Creditor had s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed upon Aamby Valley Limited (para 6 at page 2-3 of the Reply); (d) The Hon'ble Supreme Court has, vide order dated 21.11.2013, directed that all the assets of the Sahara group of companies shall stand frozen and there is a restraint on alienation thereof except with the leave of the Hon'ble Court (para 7 at page 3 of the Reply); (e) By further order dated 19.06.2015, the Hon'ble Supreme Court has held that the stage for making any reliefs to the Sahara group of companies has not ripened as yet (para 8 at page 3-4 of the Reply); (f) By another order dated 06.12.2017, the Hon'ble Supreme Court has directed attachment of Aamby Valley Property on an application made by SEBI. The Official Liquidator of the Hon' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s shall be created only on receiving confirmation thereof from the Hon'ble Supreme Court. 12. During oral arguments, Mr. Shyam Kapadia appearing for the Corporate Debtor submitted that the Corporate Debtor is restrained from making any payments since the various orders passed by the Hon'ble Supreme Court are in effect. 13. Countering the submissions, Ms. Prachi Wazalwar appearing for the Operational Creditor submitted that the Hon'ble NCLAT, in its order dated 14.08.2019 in Company Appeal (AT) (Insolvency) No. 94/2018 in the matter of Romi Datta v S Gurumoorthi another has upheld an order dated 15.12.2017 passed by this Adjudicating Authority in the matter of Sahara Q Shop Unique Products Range Limited. 14. However, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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