9911796707
TMI Blog2023 (8) TMI 708X X X X Extracts X X X X X X X X Extracts X X X X ..... .) No. 992 of 2023 - - - Insolvency & Bankruptcy - Stay on CIRP process - Immediate restoration of Authorised Signatories in the accounts maintained by the Applicant in various banks, including the only operational account of Applicant with Yes Bank Limited as it existed prior to the Admission Order - removal of the name of the Interim Resolution Professional from the list of Authorised Signator ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 3649 of 2023 :- This is an Application filed by the Corporate Debtor making prayer for following reliefs:- a. Direct that the Applicant herein is entitled for immediate restoration of its Authorised Signatories in the accounts maintained by the Applicant in various banks, including the only operational account of Applicant with Yes Bank Limited as it existed prior to the Admission Orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal in Ashok Kumar Tyagi vs. UCO Bank Anr.-IA Nos.4291, 4221, 4340 in Company Appeal (AT) (Ins.) No. 1323 of 2022 . In the said judgment, this Tribunal has clearly held that even if the CIRP order has been stayed, the Corporate Debtor cannot be put back. In paragraphs 18 19, following has been held:- 18. The difference between stay of an Order and quashing of any Order are well settle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der, no further action can be taken by the IRP in pursuance of the Order dated 28.10.2022. The Order dated 28.10.2022 has become inoperative in view of the Interim Order of this Tribunal dated 07.11.2022. Hence the Appellant is right in his submission that IRP can not discharge any function after the Impugned Order dated 07.11.2022. 4. Learned Counsel for the Corporate Debtor submitted that t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
