Authority Rejects Resolution Plan, Appoints Liquidator Due to Preferential Transactions; Lacks Power to Cancel Leases or Evict.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Appointment of liquidator - Adjudicating authority rejected the "Approval of Resolution Plan" - 'Preferential transactions' - Power of adjudicating authority to cancel the lease agreement - The Adjudicating Authority is not empowered to pass an order of eviction and it is for an 'Aggrieved party' to move the appropriate forum for redressal of its grievances in accordance with Law.....