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2019 (3) TMI 959 - Tri - Insolvency and BankruptcyTravel restraint to respondents nos. 2 to 5 from leaving the country without prior permission of this Bench - overseas trip to Abu Dhabi, UAE to attend the wedding ceremony of friend's son as per e-invitation received by the present applicant - Respondent moved seeking direction against the respondent Nos. 2 to 5 to deposit their passports with the Registry of this Tribunal during the pendency of IA - allegation of applicant as siphoned off huge amounts of the Company and is not cooperating with the liquidator in the liquidation proceedings HELD THAT:- There are various allegations levelled upon the friend of the present applicant and in view of those allegations, applicant should also be restrained to travel abroad. In fact, no clinching evidence produced against the present applicant (respondent No. 2) so as to make any ground to restrain him from travelling abroad and/or for attending wedding ceremony of his friend's son. All the allegations are only against third party. That the present applicant has filed his travel program along with e-invitation card specifying the place of visit for a period from 19.02.2019 to 24.02.2019. The respondent has also failed to produce any evidence of the recent past about the conduct of the present applicant (respondent No. 2 ). Moreover, it is the domain of the liquidator to raise objection, if any, when the company is already under liquidation. It is pertinent to mention herein that as per Section 35 of the IBC, the moment, the order of liquidation is passed, the Liquidator takes into his custody or control, all the assets, properties, effects and the actionable claims of the corporate debtor. It is only the Resolution Professional and/or Liquidator as the case may be, is/are competent to file an application before the Adjudicating Authority under sections 60(5)(c), 66 and 67 of IBC. Under the facts and circumstances and the discussions in sequel, we do not find any reason for not granting permission to the present applicant (respondent No. 2) to attend the wedding ceremony of his friend's son for a limited period. However, with abundant caution, we hereby direct the present applicant to furnish Indemnity Bond of ₹ 5.00 lakhs and the surety of a like amount with the Registry of this Tribunal. The present applicant is also directed to inform this Bench immediately through his authorised counsel, after return from his overseas trip to Abu Dhabi, UAE. It is further directed that the applicant shall produce order of this Bench at the Indian Embassy at Abu Dhabi, UAE.
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