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2019 (5) TMI 1469 - HC - Insolvency and BankruptcyTaking over the godowns/properties of the Corporate Debtor, including its plant, machinery, mortgaged properties and stocks of grain etc. - Section 14 of the Insolvency & Bankruptcy Code, 2016 - HELD THAT:- Since the respondent no.1/Bank has also expressed its willingness to the IRP/RP taking control of all the assets, including the perishable assets of the corporate debtor, there is no real contest in the present case - DRAT was not powerless to modify its own order whereby the two court commissioners had been appointed to take over control of the assets of the petitioner/corporate debtor. In the facts of the case, the learned DRAT should have recalled its order so that the IRP/RP could take over the assets of the corporate debtor in the exercise of its mandate under the Insolvency & Bankruptcy Code, 2016. The appointment of the two Court Commissioners vide order dated 15.11.2018 is recalled - impugned order set aside - the IRP/RP is directed to act in exercise of the power vested in it by the Insolvency & Bankruptcy Code, 2016. Petition disposed off.
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