9911796707
TMI Blog2021 (8) TMI 987X X X X Extracts X X X X X X X X Extracts X X X X ..... directed to send the copy of this Order to the ICICI Bank for immediate compliance and the Respondent is also directed to file compliance report of remittance of ₹ 32.50 lakhs by an Affidavit on or before 17.09.2021 - List the matter on 17.08.2021. - IA/39/2021 in CP (IB)/09/GB/2019 - - - Dated:- 12-8-2021 - Hari Venkata Subba Rao, Member (J) And Prasanta Kumar Mohanty, Member (T) For the Appellant : Abhishek Prasad, Advocate For the Respondents : Dipanjan, Advocate ORDER 1. Matter is taken up today for hearing through video conferencing. Heard both the sides. 2. This Application has been filed by the Resolution Professional enclosing the Orders of the Hon'ble Supreme Court dated 23.07.2021 passed in MA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Corporate Debtor cannot be sustained. The Learned Counsel for the Applicant has also no objection in the Respondent No. 1 being allowed to operate its account subject to it remitting an amount of ₹ 32.50 lakhs into the account of the Corporate Debtor. In such circumstances, Appeal is allowed. The impugned order is modified as follows: i. The Respondent No. 1 is allowed to operate its account subject to it to first remitting into the account of the Corporate Debtor, the amount of ₹ 32.50 lakhs which stood paid to it by the management of the Corporate Debtor. The assets of the Corporate Debtor shall be managed strictly in terms of the provisions of the IBC. The Appellant as RP will bear in mind the provisions of Section 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Hon'ble Supreme Court but they have prayed that this amount should not be utilised by the CD or the RP till IA No. 34 of 2021 and 30 of 2021, filed before this Hon'ble Bench relating to this transaction, is disposed of. 5. He has also submitted that the Hon'ble Supreme Court has made it clear in its Order dated 20.04.2021 that the Judgment will not stand in the way of the Respondent herein i.e. JSVM Plywood Industries Ltd. pursuing its claim with regard to its entitlement to a sum of ₹ 32.50 lakhs and any other sum from the Corporate Debtor or any other person in the appropriate forum and in accordance with law. 6. Heard he submissions of the Respondent and it is felt that arrangement of ₹ 32.50 lakhs im ..... X X X X Extracts X X X X X X X X Extracts X X X X
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