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2022 (12) TMI 369 - AT - Insolvency and BankruptcySeeking liquidation of the Corporate Debtor - Section 33 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The ratio in the case of MR. SHARAD SANGHI AND ASHUTOSH KOUL AND 814 OTHER EMPLOYEES OF JYOTI STRUCTURES LIMITED VERSUS MS. VANDANA GARG AND ORS. AND DBS BANK LIMITED AND ORS. [2019 (5) TMI 387 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL] is not applicable to the facts and circumstances of the present case because there is a change in the voting share in the present case that takes place after the order of liquidation. It is also pertinent to mention that it has been time and again held by the Hon’ble Apex Court that the Code is complete in itself and since there is no provision to deal with such a situation as we have one in hand, we do not find it to be a fit case to apply Rule 11 of the NCLAT Rules 2016 which operate in altogether different sphere. Looking from any angle, we could not persuade ourselves to accept the contention raised by the Appellants in the present three appeals for setting aside the impugned order and to set the clock back on the asking of the Appellant (City Co-Operative Credit And Capital Limited) - Appeal dismissed.
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