9911796707
TMI Blog2024 (10) TMI 1181X X X X Extracts X X X X X X X X Extracts X X X X ..... Liquidator towards the liquidation cost within two weeks from today by a Bank Draft or by RTGS. Liberty granted to the Liquidator to file an Application before the Adjudicating Authority with regard to entitlement of fee, if any, which may be decided in accordance with law. In view of the fact that Financial Creditors have expressed their willingness to accept the amount of the Resolution Plan, the time as prayed was required to be extended by the Adjudicating Authority - the Order of the Adjudicating Authority set aside - appeal allowed. - [ Justice Ashok Bhushan ] Chairperson , [ Barun Mitra ] Member ( Technical ) And [ Arun Baroka ] Member ( Technical ) For the Appellant : Mr. Sumesh Dhawan, Mr. Saswat Kumar Acharya and Mr. Dhananjay B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been passed. 2. Ld. Counsel for the Bank of India who has 67% of vote share has filed an affidavit and submits that Bank of India has no objection in appellant making the payments within four weeks. 3. Counsel for the Appellant submits that amount of Rs. 5 Crore shall be paid within three days in the CD s account. 4. Counsel for the Respondent No.4 has already filed a reply. Let the Appellant deposit the entire amount Rs. 7.34 Crores within four weeks from today. 5. List this appeal again on 22.10.2024. 6. The Bank of India who has 67% Vote Shares in the CoC had filed an Affidavit. In Paragraphs 14 15 of the Affidavit, following has been pleaded: 14. That, the answering respondent only wishes to reiterate the submission that was made by it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount to the Creditors as per the Resolution Plan. Appellant shall make payment of Rs.10.5 Lakhs to the Liquidator towards the liquidation cost within two weeks from today by a Bank Draft or by RTGS. 10. We grant liberty to the Liquidator to file an Application before the Adjudicating Authority with regard to entitlement of fee, if any, which may be decided in accordance with law. 11. In view of the fact that Financial Creditors have expressed their willingness to accept the amount of the Resolution Plan, we are of the view that time as prayed was required to be extended by the Adjudicating Authority. 12. Without entering into merits of the other issues in the facts of the present case to ensure the revival of the Corporate Debtor and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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