TMI Blog2021 (9) TMI 737X X X X Extracts X X X X X X X X Extracts X X X X ..... GTMSE Guarantee Cover available for MSME Unit for resolution of the issues advanced - List the matter on 24.03.2021. - Cont. Appln. No. 01 of 2019 in TP No. 21/GB/2016 in C.P. No. 188 of 2015 - - - Dated:- 23-2-2021 - Hari Venkata Subba Rao, Member (J) And Prasanta Kumar Mohanty, Member (T) For the Appellant : P. Gaggar, CA and P.K. Roy, Advocate ORDER 1. Matter is taken up through video conferencing. The learned Counsel for the petitioner Mr. P. Gaggar is present. The Learned Counsel for the Respondent Mr. P. K. Roy is also present. 2. Heard both sides. The Learned Counsel for the Respondent has explained the difficulties faced by the Respondent in complying all the terms and conditions mentioned in the Mutual Settleme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... execution of the terms and conditions of the Mutual Agreement, which is reproduced below: COMPLIED 1. Shri Rupak Mahanta was appointed as Director on 13.10.2017. He has taken over the control of the affairs of Vivek Cylinders Pvt. Ltd. ( Company ) effective from the date of appointment. 2. The Fixed Deposits amounting to ₹ 13,00,000.00 in SBI - Khanapara in the name of Hemaprava Devi was released on 28.12.2017. The Fixed Deposit amounting to ₹ 8,87,000.00 in SBI- Khanapara in the name of Hemaprava Devi was released. 3. The Fixed Deposits amounting to ₹ 5,20,300.00 in SBI - Khanapara in the name of Hemaprava Devi was released. 4. The Fixed Deposits amounting to ₹ 12,52,500.00 in SBI - Khanapara in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said bank. 2. The Fixed Deposit in Industrial Co-operative Bank, Noonmati Branch in the name of Vivik Mahanta amounting to ₹ 1,00,000.00 is not yet released. 3. The collateral security provided by Hemaprava Devi in the form of Fixed Deposit amounting to ₹ 18,65,457.00 to Industrial Co-operative Bank, Noonmati Branch is not yet released by the Bank and consequently Hemprava Devi has been unable to make payment against the statutory dues of the Company to the tune of ₹ 20,00,000.00. 6. During the hearing, the Learned Counsel for the Respondent has reported that the loan outstanding of the Company with the Bank is more than ₹ 1.00 Crore and the Respondent seeks some time to discuss with the Bank the way forwar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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