TMI Blog2014 (2) TMI 1356X X X X Extracts X X X X X X X X Extracts X X X X ..... e a Statement of Affairs within 21 days and also disclose the correct addresses of the company as well as the addresses of the Directors. It is clarified that the Directors of the company shall continue to operate the bank accounts, however, a weekly statement as to the receipts and payments shall be furnished to the Official Liquidator. Application disposed off. - CO.PET. 84/2013 - - - Dated:- 12-2-2014 - MR. JUSTICE VIBHU BAKHRU For the Appellant : Mr Sumit Bansal, Mr Ateev Mathur And Ms Richa Oberoi, Adv. For the Respondent : Mr Vineet Malhotra, Ms Manmeet Sethi and Mr Anupam Yadav, Adv. ORDER CA No. 271/2014 The delay is condoned. The application stands allowed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eration of various other secured creditors who may also be effected, the present petition should not be entertained. The learned counsel for the respondent has also submitted that the petitioner is a signatory to a consortium agreement wherein Punjab National Bank has been appointed as a lead bank. He has further drawn the attention of this Court to various clauses of the consortium agreement which, inter alia? provided that Punjab National Bank would act as a lead bank in relation to all facilities provided by the signatory banks to the respondent company. I have heard the learned counsel for the parties at length. The facts as have been disclosed in the petition and the response submitted by the respondent clearly indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In view of the fact that the petitioner is endeavouring to discharge the debts of its creditors it would be in the interest of all creditors if the said process is not impeded. However, it is also essential that the assets of the company are utilised for the benefits of the company and are not siphoned of or secreted. It is thus, essential that the Official Liquidator take charge of the movable stock of the company. The learned counsel for the respondent submits that all stock is currently stored in two warehouses situated at Rohtak. The addresses of the said warehouses is stated to be as under:- Khasra No. 134 and 135, Village Narja Bars Sanpto, Rohtak, Haryana. The learned counsel for the petitioner submits th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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