TMI Blog2019 (4) TMI 1909X X X X Extracts X X X X X X X X Extracts X X X X ..... [ 2019 (1) TMI 1508 - SUPREME COURT ] and the Adjudicating Authority should have exercised its inherent power and closed the application under Section 7. Mr. Arvind Sinha, Advocate wants to file an intervention application on behalf of one of the Financial Creditor. However, in view of the settlement reached such prayer is not allowed. If any Financial Creditor wants to file claim against th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hanna, Mr. Jitender Choudhary and Mr. Bijendra Singh, Advocates for Intervener. JUDGMENT This appeal has been preferred by the Appellant Sunil Tandon, shareholder of M/s Radhey Sham Tandon (MFG) Pvt. Ltd. against order dated 13th March, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, which reads as follows:- ORDER CA-444(PB) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been communicated by its letter dated 3rd January, 2019 and accepted by the Corporate Debtor on 10th December, 2018 which is much prior to the constitution of the Committee of Creditors, which was constituted on 1st March, 2019. It is submitted that it is in this background , the Appellant moved before the Adjudicating Authority to pass order in terms of observations of Honble Supreme Court at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd closed the application under Section 7. 5. Mr. Sabhya Chaudhary, learned counsel appearing on behalf of the Resolution Professional submits that the Committee of Creditors was constituted on 1st March, 2019. However, we have noticed the aforesaid fact in the preceding paragraph. Learned counsel for Respondent Financial Creditor submits that fee and resolution cost payable to the Resolution P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rofessional, declaring moratorium, freezing of account, and all other order(s) passed pursuant to impugned order and action taken by the Resolution Professional, including the advertisement published in the newspaper calling for applications and actions are declared illegal and are set aside. The Corporate Debtor is released from the rigour of law and is allowed to function independently through i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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