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TMI Blog2021 (9) TMI 580X X X X Extracts X X X X X X X X Extracts X X X X ..... is not a necessary party in the proceedings, therefore, we are not inclined to give any directions to the IBBI as prayed at Sl. No. vii x of the prayers. Hence, the prayers of the Applicant are not liable to be accepted. The application is Dismissed being infructuous. - (IB)-575(ND)/2017, IA/770/2021, IA/412/2021, IA/5362/2020 and Comp. Appeal-06/2021 - - - Dated:- 6-8-2021 - Abni Ranjan Kumar Sinha, Member (J) And L.N. Gupta, Member (T) For Appearing Parties : M.M. Abbasi, Adv., Rahul Kumar and Deepak Vohra ORDER 1. IA/770/2021- By filing this application, the applicant has prayed for the following main reliefs- I. Expeditiously decide and dispose of the present Application in favour of the Applicant and against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... VIII. Issue directions to the newly appointed Liquidator to hold/re-notify the Auction of the asset of the Corporate Debtor as a going concern under Regulation 32(e) r/w Schedule \, Regulation 33 of the Insolvency and Bankruptcy Board of India (Liquidation process) Regulation (2016), and/or; IX. Direct Respondent No. 1 to bring on record the dates particulars of deposit of EMD by all prospective bidders and further direct Respondent No. 1 and/or New Liquidator to refrain from releasing the EMD Amount received after 03.02.2021 till the disposal of the present Application and/or completion of enquiry into the Auction process; X. Issue Directions upon Respondent No. 3 to make stringent rules so that the true spirit behind Regulat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... well as the Liquidator. In the course of hearing, Ld. Counsel appearing for the Applicant submits that the Petitioner/Applicant does not want to press the Prayer No. 2 3 and will move only Prayer No. 1. For this prayer, the Ld. Counsel referred to the order of Hon'ble NCLAT in Company Appeal (AT) (Insolvency) No. 628/2019 dated 05.09.2019. 8. Heard. Order Reserved. 9. Both the parties are directed to file the written synopsis within three days from today. 10. IA/5362/2020- The Respondent is directed to file the reply within a week from today. No further adjournment shall be granted on any ground. 11. IA 62/2020- The Liquidator seeks time to file the reply. One week's time is granted to file the reply. 12. List the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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