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2019 (12) TMI 1322 - AT - Insolvency and BankruptcyPossession of machinery - whether plant is in possession of the Janata Sahkari Bank Limited and they have put it up for auction and that respondent No. 2 has submitted bid in that process? - HELD THAT:- As per explanation below Section 18 of Insolvency and Bankruptcy Code, 2016, the plant is owned by appellant and thus does not belong to the Corporate Debtor, and is thus owned by third party, i.e. The Appellant - the possession of the plant machinery shall be restored to the appellant through Janata Sahkari Bank Limited, Pune. Appeal disposed off.
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