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2019 (8) TMI 686

..... s passed ex-parte - Section 9 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- We find that except vague statement made by the Appellant, there is nothing on the record to suggest that the Hon’ble Supreme Court has passed specific order prohibiting ‘M/s. Sahara Q Shop Unique Products Range Limited’- (‘Corporate Debtor’) to release or pay any amount. We are not inclined to interfere with the impugned order dated 15th December, 2017 on purported ground that there is no default on the part of the ‘Corporate Debtor’ - Appeal dismissed. - Company Appeal (AT) (Insolvency) No. 94 of 2018 - 14-8-2019 - Mr. S.J. Mukhopadhaya, Chairperson Mr. A.I.S. Cheema, Member(Judicial) and Kanthi Narahari Member .....

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..... at the prayers herein are deferred for the time being and would be considered upon the deposit of the balance amount by the Appellant therein in compliance of its judgment/ final order dated 31st August, 2012 at Para 11, Page 11-12 of the said order, therefore, according to counsel for the Appellant, M/s. Sahara Q Shop Unique Products Range Limited - ( Corporate Debtor ) being one of the Sahara Group Companies cannot pay any amount even to 1st Respondent- Operational Creditor and therefore, no default can be alleged. 4. Learned counsel for the Appellant placed reliance on part of the order dated 21st November, 2013 passed by the Hon ble Supreme Court in Contempt Petition No. 412-413 of 2012 and directed as follows: We are convinced that the .....

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..... placed on Status Report of SEBI filed before the Hon ble Supreme Court in Civil Appeal No. 9813 of 2011 whereby they have confirmed of having taken steps to recover the amount from M/s. Sahara Q Shop Unique Products Range Limited - ( Corporate Debtor ). 7. Learned counsel for the 1st Respondent submitted that the orders dated 21st November 2013 and 19th June, 2015, relied upon by the counsel for the Appellant, have no implication on the Corporate Debtor at hand because even after passing of the said orders, the Corporate Debtor has paid salary till September, 2014 until it voluntarily stopped paying; as also Income Tax amounting to ₹ 153,03,53,020 paid on 2nd November, 2015 and Provident Fund amounting to ₹ 7,88,73,464 paid on 3 .....

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