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TMI Blog2022 (6) TMI 678X X X X Extracts X X X X X X X X Extracts X X X X ..... ion are either preferential, undervalued or fraudulent, the question of exercising our jurisdiction does not arise. The Liquidator is eligible to file Civil Suit by taking due permission of this Adjudicating Authority in terms of Section 33(5) of IBC, 2016. From the conjoint reading of Section 63 of IBC, 2016 and proviso under Section 33(5) of IBC, 2016, it can be inferred that if a Liquidator is eligible or required to institute a suit or other legal proceeding on behalf of the corporate debtor, it can do so with prior approval of this Adjudicating Authority - further, the Adjudicating Authority is not a substitute to a Court of recovery therefore, this is not the appropriate forum to adjudicate such transactions. Application dism ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Nine Hundred and Ninety-Eight) in the liquidation account of the corporate debtor along with interest @ 12% per annum for the delay in repayment; e) Pass an order directing respondent No. 5 (Auto Kashyap India Private Limited) to refund Rs. 1,00,000/- (Rs. One Lakh) in the liquidation account of the corporate debtor along with interest 12% per annum for the delay in repayment; f) Pass an order directing respondent No. 6 (Nourish Organic Foods Private Limited) to refund Rs. 14,28,928/- (Rs. Fourteen Lakhs Eighty-Four Thousand Nine Hundred and Twenty-Eight) in the liquidation account of the corporate debtor along with interest @ 12% per annum for the delay in repayment; g) Pass an order directing respondent No. 7 (Anuradha K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction does not arise. 7. Further, the Liquidator is eligible to file Civil Suit by taking due permission of this Adjudicating Authority in terms of Section 33(5) of IBC, 2016. 8. That the Liquidator has filed its written submission and has stated that Section 63 of IBC bars Jurisdiction of Civil Court. 9. At this juncture, we refer to Section 63 of IBC, 2016. The same is reproduced overleaf: 63. Civil court not to have Jurisdiction.- No civil court or authority shall have jurisdiction to entertain any suit or proceedings in respect of any matter on which National Company Law Tribunal or the National Company Law Appellate Tribunal has jurisdiction under this Code. Civil court not to have jurisdiction. 10. Now, we furthe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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