TMI Blog2020 (10) TMI 308X X X X Extracts X X X X X X X X Extracts X X X X ..... ort, Mumbai and also inform him telephonically that he should remain present through video conferencing before this Court today at 03.00 p.m. - This order will be digitally signed by the Personal Assistant of this Court. - AD-HOC NO. WP-LD-VC-36 OF 2020 - - - Dated:- 5-10-2020 - S.J. KATHAWALLA, RIYAZ I. CHAGLA, JJ. Mr. Prasad Dhakephalkar, Sr. Adv. a/w. Mr. Nausher Kohli, Mr. Yash Joglekar for the Petitioner. Mr. Sandeep Marne for Respondent Nos. 1 to 3. Mr. Ajinkya Udane for Respondent No. 4. Mr. A.Y. Sakhare, Sr. Adv. i/b. Mr. J.M. Joshi for Respondent No. 6. Ms. S.S. Bhende, AGP for the State. Mr. Vivek Patil i/b. Vivek Patil and Associates. Mr. Ankur Kumar, Resolution Professional, present. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the claims ; the Resolution Professional will ensure that the Company remains a going concern and will take assistance of the suspended Board of Directors, paid Directors and the employees ; the person who is authorised to sign the bank cheques may issue cheques only after authorization of the Interim Resolution Professional ; the bank accounts of the corporate debtor be allowed to be operated for day-to-day functioning of the Company such as for payment of current bills of the suppliers, salaries and wages of the paid Director, the employees / workmen electricity bills, etc. 4. Since the matter could not be settled, the earlier stay was vacated on 20th July, 2019 and the Resolution Professional was directed to constitute the Committee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the HDFC Bank Limited is not a new account opened by the suspended Directors of the Company but is an account which was not operated by the Petitioner since the year 2014. The suspended Directors of the Company after getting the said account activated on 4th June, 2019, have arranged to get an amount of ₹ 2,14,39,629/- transferred from the Corporation to the newly activated account, have withdrawn an amount of ₹ 4,25,000/- on 7th June, 2019 by cash, have transferred an amount of ₹ 1,50,00,000/- on 10th June, 2019 in favour their sister concern P.K.Traders, Tilak Nagar and an amount of ₹ 57,75,000/- in favour of the another sister concern Mahavir Link Associates, Tilak Nagar. Thus, after obtaining a stay from the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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