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2019 (8) TMI 1586 - NATIONAL COMPANY LAW TRIBUNAL , CHANDIGARH BENCHDirection to respondent-corporate debtor not to withdraw/utilize/dispose of the amount - HELD THAT:- It is not in dispute that petition, filed by the applicant under Section 7 of the Code against the respondent-corporate debtor is pending on the file of this Tribunal for a substantial period and is now listed for admission/hearing on 05.09.2019 - It is also to be seen that the Hon'ble Apex Court, vide its judgment dated 20.08.2019 [2019 (8) TMI 903 - SUPREME COURT] categorically directed that the amount deposited by the respondent be returned to it within two weeks along with interest, if any, accrued thereon. The order now passed by the Debt Recovery Tribunal is in compliance of the said order of the Hon'ble Apex Court. Hence, the applicant cannot retain the said amount with it and it should credit/transfer the said amount to the account of the respondent-corporate debtor, as per the above referred orders. In view of NUI Pulp and Paper Industries case [2019 (9) TMI 843 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI], this Tribunal is empowered to pass any appropriate interim order, as may be necessary, for meeting the ends of justice or to prevent abuse of the process of the Tribunal, in exercise of its inherent powers under Rule 11 of the 2016 Rules. This Tribunal in exercise of the powers conferred under Rule 11 of the 2016 Rules, restrain the respondent-corporate debtor and its Directors from alienating, encumbering or creating any third party interest on the assets or any legal right or beneficial interest therein, except withdrawal of the legitimate expenses required for carrying out the day to day expenses, till 05.09.2019 - Application disposed off.
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