2020 (7) TMI 358

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....OUS ORDER NO. 77797/2019 AND FINAL ORDER NO. 77015-77017/2019<br>Insolvency & Bankruptcy<br>HON'BLE SHRI P. K.CHOUDHARY, MEMBER(JUDICIAL) AND HON'BLE SHRI P.V.SUBBA RAO, MEMBER(TECHNICAL) Shri K.K. Banerjee, Advocate for the Appellant (s) Shri A.Roy, Authorized Representative for the respondent (s) ORDER P.K.CHOUDHARY : The above three appeals have been filed by the appellants there....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....3 of 2012. Subsequently, such act was repealed vide Notification issued by Ministry of Finance, Government of India. As a consequence of the same, in terms of the SICA Repeal Act, read with provisions of the Insolvency and Bankruptcy Code, 2016 (IBC), a time period of 180 days were provided to all companies whose reference stood abated to make a fresh reference to the concerned Hon'ble Company Law....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of the affairs of M/s.Kitply Industries Limited shall vest upon RP. ii. The powers of the Board of Directors of Kitply Industries Limtied shall stand suspended and the exercised by RP. iii. The RP shall act and execute in the name and on behalf of M/s.Kitply Industries Limited, all deeds, receipts and other documents, if any. (c) That accordingly, on 7th December, 2018,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....uthority, with respect to various litigations and ongoing investigations, proceedings, inquiries or adjudications of any nature whatsoever, against the Company pending before various forums all across India, shall be deemed to have been withdrawn. (e) Thus out of the total amount of rs.0.05 Crore proposed for the settlement of the entire litigations of all the Branches/Factories/Uits of t....