TMI Blog2018 (12) TMI 1674X X X X Extracts X X X X X X X X Extracts X X X X ..... conscious decision under the powers granted to this Tribunal u/s 238 of the code that the Orders passed under Section 226 (3) of the Income Tax Act dated 16.11.2017 and 17.11.2017 by Income Tax Recovery Officer-4, Mumbai, Room No.210, Ayakar Bhawan, MK Road, Mumbai are hereby suspended forthwith and we further hereby direct the authorities concerned not to proceed further for the recovery of dues ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tcy Code commencement date in view of the fact that the respondents have filed formal claim for their dues with the applicant. It is submitted by the Counsel appearing for the Resolution Professional that to their knowledge about ₹ 70.00 lac to ₹ 1.00 Crore is lying in various accounts in various Banks belonging to the Company and the funds are under attachment of Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome Tax Recovery Officer-4, Mumbai, Room No.210, Ayakar Bhawan, MK Road, Mumbai are hereby suspended forthwith and we further hereby direct the authorities concerned not to proceed further for the recovery of dues. We hereby direct the Resolution Professional to approach the Banks with the copy of this order for the withdrawal of funds available in their respective accounts to keep the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wever, this bench noticed that this association is unregistered and it seems it was formed recently. Even though the applicant has given the name of the investor in the sealed cover which this bench seen and returned to them, it is desirable that if the application is filed along with the investor, it bring some confidence that the investor will come and invest in the Company. The RP is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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