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Canara Bank rep. by Shri P. Koteswara Rao, Chief Manager Versus Deccan Chronicle Holdings Limited Rep. by its Chairman & Managing Director

2017 (7) TMI 1071 - NATIONAL COMPANY LAW TRIBUNAL, HYDERABAD

Corporate insolvency process - appointment of Insolvency Resolution Professional - Held that:- We are conscious of the fact that the Corporate Debtor is in the business of publishing newspapers, periodicals, touching lives of lakhs of people and employing thousands of people directly or indirectly. The Corporate Debtor is also in important Sector i.e print media. Considering above, we have granted sufficient opportunities for both the parties and after satisfying that no disciplinary proceedings .....

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nerjee, Milan Singh Negi, A. S. Prashanth and Amir Ali, Advocates ORDER Ravikumar Duraisamy (Technical Member) 1. Heard Shri Deepak Bhattacharjee, Learned Senior Counsel along with Shri Dishit Bhattacharjee, Learned Counsel for the Petitioner and Shri Alok Dhir, alongwith Shri A.S. Prashanth, Learned Counsels for the Respondent. 2. In continuation to the order dated 05.07.2017, after hearing both the Counsels, we are conscious of the fact that the Corporate Debtor is in the business of publishin .....

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tcy Code, 2016. 3. By invoking the powers under Sections 10,12,13,14,15,16, 17, 18, 19, 20, 21, 22 and 25 and other applicable provisions of the Insolvency and Bankruptcy Code, 2016, the Bench passes the following order :- (a) We hereby appointed Shri Koteswara Rao Karuchola (Certificate No. IBBI/IPA-003/IP-N)0039/2017-18/10301), M/s K.K. Rao and Associates Cost Accountants, 2-B, Samrat Residential Complex, 5-9-12, Opp. A.Gs Office, Saifabad, Hyderabad - 500004 as Interim Resolution Professional .....

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suits or proceedings except before the Hon ble High court (s) and Hon'ble Supreme court of India, against the Corporate Debtor including execution of any judgment, decree or order in any court of law, Tribunal, arbitration panel or other authority: ii) Transferring, encumbering, alienating or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; iii) Any action to foreclose, recover or enforce any security interest created by the Corporate .....

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ods/services viz. Water, Electricity, Printing ink, Printing plates, Printing Blanket, Solvents etc. will also come under the purview of exemption and thus prayed to exempt above good/services from moratorium. We are convinced with the prayer of the Respondent that the above goods and services would come under exemption under this Section. Hence, we clarify that goods/services viz. Water, Electricity, Printing ink, Printing plates, Printing Blanket, Solvents etc. will come under this Section and .....

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