9911796707
TMI Blog2021 (5) TMI 576X X X X Extracts X X X X X X X X Extracts X X X X ..... sional and would have been well advised not to venture into such a misadventure. Be that as it may, in these circumstances, not granting leave to withdraw will amount to holding the appeal before the Hon'ble NCLAT hostage, which we are loathe to do. The ends of justice will be met if we allow the applicant/liquidator leave to withdraw application, but at a cost of ₹ 50,000/- to be paid to the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund, within a period of two weeks from today - application disposed off. - IA (IB) No. 150/KB/2021 and IA (IB) No. 1165/KB/2020 in CP (IB) No. 543/KB/2017 - - - Dated:- 11-5-2021 - Rajasekhar V.K., Member (J) And Harish Chander Suri, Member (T) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccount of the corporate debtor. (d) Aggrieved by this order dated 26.06.2020, the liquidator has preferred an appeal before the Hon'ble NCLAT, which is numbered as Company Appeal (AT)(Insolvency) No. 885/2020. (e) One of the matters agitated before the Hon'ble NCLAT seeks a clarification with reference to the order dated 14.01.2020 and 26.06.2020. Since the matter is already sub-judice before the Hon'ble NCLAT, the proceedings in IA 1165/KB/2020 will impact the proceedings in appeal before the Hon'ble NCLAT. (f) The Hon'ble NCLAT had, vide order dated 12.01.2021, granted time to the applicant to take a decision with respect to withdrawal of IA No. 1165/KB/2020. (g) In the light of these developments, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s party in person, and the learned counsel for the liquidator. 8. It is true that having once approached the Hon'ble NCLAT in appeal against the order dated 26.06.2020, the applicant/liquidator ought to have desisted from filing another application bearing IA No. 1165/KB/2020 before this Adjudicating Authority seeking clarifications. The applicant is a seasoned professional and would have been well advised not to venture into such a misadventure. Be that as it may, in these circumstances, not granting leave to withdraw will amount to holding the appeal before the Hon'ble NCLAT hostage, which we are loathe to do. 9. In the circumstances, the ends of justice will be met if we allow the applicant/liquidator leave to withdraw IA N ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
