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2020 (4) TMI 514 - Tri - Insolvency and BankruptcyRecovery of monies due to the corporate debtor under liquidation - amount due and payable - interpretation of section 60(6) of IBC, 2016 - HELD THAT:- After liquidation of the Corporate Debtor, the liquidator steps into the shoes of the Corporate Debtor and as per Regulation 39 of the IBBI (Liquidation Process) Regulation 2016, the liquidator is empowered to proceed to recover and realize the dues to the Corporate Debtor for maximization of value to the stakeholders, can initiate action for recovery of dues - Further, the maxim 'reddendo singula singulis', or for that case any interpretation should be given to a sentence, only if the said sentence is vague and ambiguous and when the section is lucid and unambiguous then there is no need for any interpretation. Further, even for the sake of argument, if the interpretation of 'reddendo singula singulis' is applied to section 60(6) of the IBC, 2016, it should be noted that the said interpretation should be confined only with the object and words contained in section 60(6) of IBC, 2016 and should not be referred or read in consonance with section 14 of IBC, 2016. It can safely be concluded that an amount of ₹ 24,36,00,048/- is due and payable by Respondent to the Corporate Debtor - Application allowed. Respondent is directed to make the payment of the said amount o within six weeks from the date of the pronouncement of this order, failing which 12% interest per annum shall be charged from the Respondent on delayed payments till the realization of the whole of amount.
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