2022 (10) TMI 524

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..... arned Counsel appearing for the 'Appellant' / 'Resolution Applicant', Mr. M.L. Ganesh, the Learned Counsel appearing for the 2nd Respondent / State Bank of India (Sole Member of the Committee of Creditor) and Mr. T. Ravichandran, the Learned Counsel for the 3rd Respondent / Liquidator. 2. According to the Learned Counsel for the 'Appellant' / 'Suspended Director of M/s. Leo Primecomp Pvt. Ltd.' / 'Resolution Applicant', the 'Adjudicating Authority' (National Company Law Tribunal, Special Bench - II, Chennai) in IA/196(CHE)/2022 in IBA/578/2019 had passed an 'Order' of 'Liquidation' on 06.06.2022 by 'Appointing' the 'Liquidator' in respect of the 'Corporate Debtor', to carry out the 'Liquidation Process', subject to the 'Directions', issued .....

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..... Committee of Creditor), the Learned Counsel for the 'Appellant' prays for an 'Order' being passed by this 'Tribunal' to set aside the 'Order' of 'Liquidation' dated 06.06.2022 in IA/196(CHE)/2022 in IBA/578/2019 passed by the 'Adjudicating Authority' (National Company Law Tribunal, Special Bench - II, Chennai). For this relief being sought for by the Appellant, there is 'no objection' on the side of the 2nd Respondent / State Bank of India (Sole Member of the Committee of Creditor) and on behalf of the 3rd Respondent / Liquidator respectively. 6. In view of the fact that the 'Appellant' had 'Remitted' a total sum of Rs.72 Crore to the 2nd Respondent / State Bank of India (Sole Committee of Creditor Member), in 'Terms of Settlement', and t .....

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..... rocess' period, by the 'Adjudicating Authority' (National Company Law Tribunal, Special Bench - II, Chennai). 9. Added further, a sum of Rs.72 Crore remitted by the 'Appellant' (in 'Two Instalments') before the 2nd Respondent / State Bank of India (Sole Member of the Committee of Creditor) and received by the said Bank, the Bank is permitted by this 'Appellate Tribunal' to take a 'Plea' before the 'Adjudicating Authority' (National Company Law Tribunal, Special Bench - II, Chennai), with regard to an 'Appropriation' of a sum of Rs.72 Crore and in such an event, the 'Adjudicating Authority' (National Company Law Tribunal, Special Bench - II, Chennai) is to take a 'Final Call' in the matter, of course, in the manner 'known to Law' and 'in ac .....

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