TMI Blog2020 (3) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... icant in the applicants in CA(IB)No.796/KB/2019 are not complying the order passed by this Authority, they shall be dealt with separately but only for this reason the Liquidator cannot withhold the amount deposited by Maithan Alloys Ltd. - Hence, we direct the Liquidator to pay back sum of ₹ 17,06,25,000/- along with interest agreed thereon within 7 days from today. - CA(IB) NOS. 1165/KB/2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ld, Counsel for the earlier Successful Bidder, namely Maithan Alloys Ltd. Heard Ld. Liquidator. Heard Ld. Counsel for the financial creditor i.e. SBI. In this proceeding, on 29,04.2019, an order of liquidation of the Corporate Debtor is already passed, Liquidator was directed to sell the Corporate Debtor as a going concern. It appears from record that during process of liquidation, the Liquida ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thority directed the Liquidator and Successful Bidder i.e. Maithan Alloys Ltd. to file their say. We also directed M/S. Maithan Alloys Limited not to deposit further sum till the application is being disposed of. On 27.08.2019, Ld. Counsel for Maithan Alloys Ltd. made statement that her client does not wish to contest the application filed by the intervener i.e. M/S Sova Electricals Limited, Ty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ht to our notice that thereafter on 30.09.2019, they requested the Liquidator to return the amount paid by it. However, the Liquidator did not consider their prayer. Ld. Counsel for the Liquidator submitted that since other bidders namely, M/S Sova Electricals Limited, Typhoon Financial Services Limited and Sonar Bangla Career Academy Private Limited did not comply order of payment, Maithan Alloys ..... X X X X Extracts X X X X X X X X Extracts X X X X
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