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2010 (5) TMI 375 - HC - Companies LawLiberty to the parties to approach High Court again in case of any difficulties in implementing the order and reserving its jurisdiction to pass further order Held that:- In the instant case, a liberty, however, was granted to the parties to approach the Company Law Board in case of any difficulties in implementing the orders. Such liberty granted by the Company Law Board by the said order dated December 31, 2001, as noticed above, has not been challenged by the appellant (Lohia group) and, therefore, the direction for payment of principal and interest naturally has to be subject to the further order that may be passed by the Company Law Board. There is no doubt that the direction for payment of principal and interest, subject to the subsequent modification that may be made pursuant to such liberty granted, is executable by the Company Law Board or by any other court under section 634A of the Act. In view of the above, while allowing the appeal being Company Appeal No. 8 of 2004, Company Appeal No. 4 of 2005 stands dismissed. The amount paid by the Agarwal group pursuant to the order dated December 31, 2001, passed by the Company Law Board in C. P. No. 82 of 2000 shall first be appropriated against the interest payable up to August 31, 2002 and the remaining amount shall be appropriated against the principal amount.
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