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TMI Blog2019 (10) TMI 1356X X X X Extracts X X X X X X X X Extracts X X X X ..... expired on 20.08.2018 and since then the instant intervention application is being adjourned for one or other reason. Consequent upon, which the application filed under section 33 of the IB Code sometime in 2018 could not be disposed-of by passing appropriate order. It is further observed that upon receipt of rejected resolution plan the Adjudicating Authority (NCLT) obliged to initiate liq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsider and approve the Resolution Plan submitted by the Applicants herein in the matter of M/s. Shree Vinayak Foods Fabrics Private Ltd having Corporate Identification Number U51101GJ1988PTC011688; C. Pending the hearing and final adjudication of this application, stay further proceedings of the Interlocutory Application No.2 of 2019 in Company Petition (I.B.) No.6/7/NCLT/AHM/2018. It i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /collaterals/margin money/fixed deposit with lien provided by the Company shall be deemed to be released immediately on Effective Date. It is subsequently mentioned that the personal guarantee provided by the existing promoters of the Company, shall result in no liability towards that 'Company' or the 'Resolution Applicants'. This 'treatment of security' and with regard to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded by the company. Under such circumstances, we are not inclined to pass any order allowing the instant application, more so, when CIRP has already been expired on 20.08.2018 and since then the instant intervention application is being adjourned for one or other reason. Consequent upon, which the application filed under section 33 of the IB Code sometime in 2018 could not be disposed-of by pas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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