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TMI Blog2021 (2) TMI 161X X X X Extracts X X X X X X X X Extracts X X X X ..... ispense with the proceedings of this Tribunal in MA/10/KOB/2020 which had been concluded and have attained judicial finality. (iv) The Proviso to Section 420(2) of the Companies Act, 2013 states as under: Provided that no amendment shall be made in respect of any order against which an appeal has been preferred under this Act . This Bench find no merit in this application - Application dismissed. - MA/110/KOB/2020 inMA/10/KOB/2019 in CP(IB) No. 689 of 2017 - - - Dated:- 19-11-2020 - Shri Ashok Kumar Borah, Member (Judicial) For the Applicant : Mr. N.R.Krishnan Unni, PCS For the Respondent : Mr. Ravi Rajagopalan Mr. Ramalingam VA, Advocate ORDER 1. This Order has arisen out of the MA/110/KOB/2020 filed by M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... transferred to the Applicant for a paltry sum of ₹ 2,500 (Rupees Two Thousand Five Hundred Only), in anticipation of the Corporate Debtor being admitted into CIRP. It is pertinent to note that the Operational Creditor who had initiated the CIRP of the Corporate Debtor had served his notice on the erstwhile management of the Corporate Debtor on 19.10.2017 and shortly thereafter the Assignment Agreement came to be executed on 15.11.2017. It was alleged that the 3rd respondent who was in charge of the affairs of the Corporate Debtor, abusing his position and in breach of fiduciary obligations, intending to strip away the valuable assets of the Corporate Debtor before CIRP commencement, caused the Agreement assigning the IP rights of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eement dated 15.11.2017, in favour of the 3rd respondent, i.e, V Manifest Systems P Ltd., and thereby remove their name as Assignee of the said Trademark. v. The Registrar of Trademark is also directed to restore the name of the applicant Merchem Limited as the sole, true and rightful proprietor of the Trademark MERCURE with Trademark application No: 1825812 under Certificate No: 1174972 dated 25.06.2014. vi. The Registrar of Trademark is hereby directed to issue the renewal certificate in the name of the applicant/Corporate Debtor viz., Merchem Limited and directed to correct the name in the Register of Trademarks, on receipt of this order. vii. The Registry is directed to communicate this Order to Mr. Ravindra Belayur (R1), M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ercised its powers under Article 142 of the Constitution and extended limitation from 15.03.2020 until further orders, on account of the National lock down. Hence, according to the applicant, there is no delay in filing the application to set aside the order declaring R3 as ex parte. 7. Respondent No.1 vehemently opposed the prayer of the applicant. They inter alia stated that MA/10/KOB/2019 was listed for hearing on 28.11.2019, 11,12,2019, 31.12.2019, 16.01.2020, 30.01.2020 and on 12.2.2020. The applicant herein being the 3rd Respondent in MA/10/KOB/2019 was duly served notices at the outset and also afresh vide the Order dated 31.12.2019 and despite the same, having not appeared, was set ex parte on 12.02.2020. This Tribunal heard the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rating Pvt Ltd Vs. ROC, NCT of Delhi Hariyana. (iii) Order dated 8.8.2018 in Company Appeal (AT) No.105 of 2018 in People General Hospital Pvt Ltd. Vs Alliance Industries Ltd others. 11. Hence, the learned counsel for Respondent No.1 argued that the application cannot be entertained at all in the light of the statutory provisions, judicial pronouncements as also the laches on the part of the Applicant to properly represent itself when adequate opportunity was provided. 12. After hearing the learned PCS for the applicant and the learned counsel for R1 and on going through the documents on record, this Bench observes as under: (i) Several opportunities were given by this Tribunal to the applicant in full compliance of the rul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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