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TMI Blog2020 (10) TMI 123X X X X Extracts X X X X X X X X Extracts X X X X ..... Pachnanda and Smiti Verma, Advocates For the Respondents : Shaunak Mitra, Soumya Dutta, Advocates and Party-in-Person ORDER (Through Virtual Mode) 1. This Appeal has been filed by the Appellant Company against Impugned Order dated 4th March, 2020 passed in Misc. Application No. 21/KB/2020 in CP No. 49/2016, by NCLT, Kolkata Bench, Kolkata. It is a short Order which may be reproduced:- "Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of this application. Ld. Counsel for R-1 objected the prayer of the petitioners. The application under consideration is an execution application and respondent no. 1 challenges its maintainability. Though we heard the Ld. counsel, she requested further time. So in order to maintain statues que of the assets of the R-1 company, it is fair and just to restrain the R1 from alienating and encumbering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le reply affidavit by serving copy to the other side. Rejoinder may be filed within 2 weeks of receipt of the reply affidavit by serving copy to R-2. Matter stands adjourned to 24/04/2020 for hearing as to the maintainability of the application" 2. It is Interim Order which is to operate till application is decided. The Learned Counsel for the Appellant submits that this Company is in the busin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s that the Respondent No. 1 & 2 without fulfilling their reciprocal obligation under the settlement filed M.A. 21/KB/2020 in CP No. 49/2016 sought execution of T.O.S. seeking directions against the Company and have procured the Impugned Order. The Appellant claims that there is an urgency that the matter should be taken up to inter-alia consider if the Respondent No. 1 & 2 who have procured the Im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .A. 21/KB/2020. The Parties had fairly entered into a settlement and timely action by the Learned NCLT can help save the settlement. 6. For the above reasons, we dispose the Appeal with a direction to the Learned NCLT Kolkata Bench (Kolkata) to urgently decide Misc. App. No. 21/KB/2020 in CP No. 49/2016 preferably within a month. The Parties will cooperate with the Learned NCLT. The Parties will ..... X X X X Extracts X X X X X X X X Extracts X X X X
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