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2019 (6) TMI 1395 - NATIONAL COMPANY LAW TRIBUNAL CHENNAIMaintainability of petition - initiation of CIRP - Amount outstanding towards the Corporate Debtor - existence of dispute between the parties or not - HELD THAT:- The apprehension of the Applicant can be taken note of till the time either the Application is admitted or rejected, the assets and the accounts of the Company need to be maintained on date except withdrawal of the legitimate expenses required for carrying on the day-to-day expenses. Therefore, this Authority in exercise of the powers conferred under Rule 11 of the NCLT Rules, 2016, restrains the Corporate Debtor and its Directors from alienating, encumbering or creating any third party interest on the assets of the 1st Respondent Company till further orders. Matter adjourned.
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