TMI Blog2018 (2) TMI 116X X X X Extracts X X X X X X X X Extracts X X X X ..... de and Lawyer’s notice as given has been deprecated by the ‘adjudicating authority’. In effect, order (s), if any, passed by Ld. Adjudicating Authority appointing any ‘Interim Resolution Professional’ or declaring moratorium, freezing of account and all other order (s) passed by Adjudicating Authority pursuant to impugned order and action, if any, taken by the ‘Interim Resolution Professional’, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bankruptcy Code, 2016 (hereinafter referred to I B Code) have been admitted, order of moratorium- has been passed and Insolvency Resolution Professional (hereinafter referred to as IRP) has been appointed with further direction. We find that both the appeals are covered by the decision of this Appellate Tribunal in the case of Macquarie Bank Ltd v. Uttam Galva Metallics Limited who is the Res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notice under Section 8 of the I B Code . And for the said reason also the petition under Section 9 at the instance of the appellant against the respondent was not maintainable. 3. In these appeals we find that the Respondent, Macquarie Bank Ltd., has not enclosed any certificate from financial institution as defined under sub-section (14) of Section 3 of the I B Code and Lawyer s notice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ix the fee of IRP, if appointed and the Appellant will pay the fees of the IRP, for the period the IRP has functioned. 6. For the reasons aforesaid we set aside both the orders Macquarie Bank Ltd. s case (supra). Both the appeals are allowed with aforesaid observations. 7. We may make it clear that we have not decided the other issues raised in these appeals. - - TaxTMI - TMITax - Insol ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
