9911796707
TMI Blog2022 (6) TMI 622X X X X Extracts X X X X X X X X Extracts X X X X ..... g for the Respondent No.2. There is no representation on the side of the Respondent No.1 at the time of calling of the matter. The notice of service was effected upon the Respondent No.1 on 12.02.2022, as evidenced by the 'Affidavit' of service dated 18.02.2022 filed on behalf of the Appellant and the same is hereby recorded. According to the Learned Senior Counsel for the Appellant, the Appellant is a Real Estate Developer, who had entered into a Joint Development Agreement with the Respondent No.3 for constructing a multi-storeyed housing complex comprising of 557 Flats on 4.23 Acres of land at Perungudi, Chennai. In this connection, it is represented on behalf of the Appellant that the Appellant had borrowed money from the Respondent N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7705220066, (3) RERA Account No. 777705220077, (4) Current Account No.777705220055 and hence, the Impugned order passed by the 'Tribunal' in IA(IBC)/926(CHE)/2021 in IBA/1423/2019 dated 01.11.2021 passed by the 'Adjudicating Authority' (National Company Law Tribunal) Division Bench-II, Chennai is liable to be set aside. For a better and a fuller appreciation of the impugned order dated 01.11.2021 in IA(IBC)/926(CHE)/2021 in IBA/1423/2019 passed by the 'Adjudicating Authority' ( National Company Law Tribunal ) Division Bench-II, Chennai, the same is reproduced as under: - "On hearing the Applicant and the particulars furnished by way of Memo, the payments to the employees, suppliers are to be made in the following manner. S. No. Particul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the balance sheet of the Corporate Debtor or its information, utility for the depository of securities or any other registry that records their ownership of assets etc., At this stage, a mere perusal of the impugned order dated 01.11.2021 passed by the 'Adjudicating Authority' (National Company Law Tribunal) Division Bench-II, Chennai in IA(IBC)/926(CHE)/2021 in IBA/1423/2019 exhibits that the 'Adjudicating Authority' had partly accepted the Appellant's point of view but ordered to release of 50% of the amount available in the Bank Accounts. On going through the impugned order dated 01.11.2021 in IA(IBC)/926(CHE)/2021 in IBA/1423/2019 passed by the 'Adjudicating Authority' (National Company Law Tribunal) Division Bench-II, Chennai, it i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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