Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2022 (7) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (7) TMI 1245 - NATIONAL COMPANY LAW TRIBUNAL , AHMEDABAD BENCHCIRP - Corporate debtor under liquidation - Action of ED attaching the property of CD - Seeking withdrawal of provisional attachment order with immediate effect for the sake of continuing the liquidation process which shall benefit the creditors as well as other stakeholders of the Corporate Debtor - seeking remission of the amount which was withdrawn/transferred from the account of the Corporate Debtor to the Enforcement Directorate on 2nd August 2018 into the Liquidation Account of the Corporate Debtor - HELD THAT:- The summons/orders issued by the Enforcement Directorate/Adjudicating Authority/Appellate Authority under that law are related to some investigation about the affairs of the Corporate Debtor and its officers prior to the CIRP. It has no relation of whatsoever nature about the insolvency of the Corporate Debtor or its liquidation process. The prayers as made therein are not maintainable before this Adjudicating Authority invoking provisions under section 60(5)(c) of the IBC, 2016. Hence, applications to that extent need to be rejected. Seeking issue of appropriate directions to Respondents No. 2 to 5 herein to pay/clear admitted outstanding - HELD THAT:- This prayer does not fall within the ambit of sections 43 and 66 of the IBC, 2016. The amount claimed herein by the Liquidator was to be recovered by the Corporate Debtor from its debtor even prior to the CIRP. Section 35(1)(k) of the IBC, 2016 states that "subject to the directions of the Adjudicating Authority, the liquidator shall have the following powers and duties, namely:- to institute or defend any suit, prosecution or other legal proceedings, civil or criminal, in the name of on behalf of the corporate debtor. Invoking that provision, the Liquidator may file recovery suits against Respondents No. 2 to 5. We permit him to do so. Both applications, being not maintainable, stands rejected and disposed of.
|