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2019 (12) TMI 1568 - HC - Insolvency and BankruptcySeeking direction to Respondent No.3 to remove the seal & release the said property of the Petitioner No.2 including the Godown - seeking to refrain from illegally obstructing the activities of the said factory without any justified cause and/or reason - HELD THAT:- Shri Sureshkumar learned Counsel for respondent No.3 submitted that petitioner No.2 owes provident fund dues to the tune of ₹ 23 crores approximately. He submits that respondent No.3 proposes to either file Review Petition before NCLT or challenge the order dated 11/11/2019 before the Appellate Tribunal. Respondent No.3 is at liberty to take appropriate action. As on today they have to comply with the order of NCLT. As far as provident fund dues are concerned and in as much as said order is passed by NCLT, dues are arrived at on the basis of respondent No.3’s representation. Respondent No.3 is directed to remove the seal by tomorrow affixed on the property of the petitioner No.1 taken over by petitioner No.2 - Petitioner No.1 shall deposit with respondent No.2 an amount of ₹ 40,77,899/- within a week from today - Balance amount of ₹ 4 Crores as per NCLT order dated 11/11/2019 shall be deposited by the petitioner with respondent No.3 on or before 10/02/2020. Petition allowed.
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