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2020 (9) TMI 374 - AT - Companies LawWinding up proceedings - Section 73(4) of the Companies Act, 2013 - tax refund of TDS - HELD THAT:- By the Impugned Order under the Companies Act in a Petition pending under Section 73(4) of the Companies Act, 2013, the NCLT could not have passed such Order directing the Bank to reverse the entry when the bank claims that it had dues of more than ₹ 30 Crores which were to be recovered from the Respondent Company. There appears no source of power giving jurisdiction to give such direction to the Bank in the facts of this matter. According to us, this Order needs to be set aside. The Impugned Order is quashed and set aside and the Canara Bank is directed to hold the amount of ₹ 15.41 Crores, which is said to have been appropriated from the account of Respondent Company, in interest bearing Account - Appeal disposed off.
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