TMI Blog2022 (10) TMI 1182X X X X Extracts X X X X X X X X Extracts X X X X ..... he Appellant ought to have been given opportunity to submit a scheme of compromise/arrangement but the Liquidator proceeded for auction without giving any opportunity - HELD THAT:- In the facts of the present case, the ends of justice will be served in giving liberty to the Appellant to submit a scheme of compromise/arrangement as contemplated under Section 230 of the Companies Act to the Liquida ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Barun Mitra Member (Technical) For the Appellant: Mr. Abhishek Anand, Mr. Nipun Gautam, and Mohak Sharma, Advocates For the Respondent: Liquidator-Reshma Mittal with Advocate Mohan Lalit, Advocate Videh Vaish and Advocate Aakansha. ORDER This Appeal has been filed challenging the Order dated 26th August, 2022 passed by the National Company Law Tribunal, Principal Bench, New ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng Authority has made observations that any viable plan that is submitted, can be placed for consideration before the Liquidation. It appears that on 29th May, 2021, the Monitoring Committee has also resolved to go for liquidation which fact was not brought before the Adjudicating Authority on 1st July, 2021. In pursuance of the Monitoring Committee Resolution dated 29th May, 2021, Application was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Appellant who was joint applicants, there was no option except to direct for liquidation which has been directed by the Impugned Order. It is submitted that in pursuance of the Impugned Order, notice for auction has already been issued and large number of Applicants have submitted their EMD. 5. We have heard the Learned Counsel for the parties and have perused the record. In the facts ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
