2020 (9) TMI 13

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Petitioner : Mr Vishal Dave ORDER Manorama Kumari, Member (J) 1) The instant case is assigned to the undersigned by the Hon'ble President, NCLT for disposal vide order dated 11.03.2020 having file No. 10/03/2020-NCLT on being difference of opinion, while passing the order by Hon'ble Member (Judicial), Mr. Harihar Prakash Chaturvedi and Hon'ble Member (Technical), Mr. Prasanta....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....oth the Hon'ble Members. Hon'ble Member (Judicial), Mr. Harihar Prakash Chaturvedi passed order allowing the application filed by the RP under section 33(1)(a) with a specific observation that the RP shall continue as liquidator and shall take steps as provided in the provision of the Code. However, the Hon'ble Member (Technical), Mr. Prasanta Kumar Mohanty has not agreed with the orde....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....allowed in view of the decision passed by the Hon'ble Supreme Court in the matter of K. Sasidharan Vs. Indian Overseas Bank & Ors., and subsequently also reiterated in its judgement passed in Civil Appeal No. 8766-67 of 2019-Committee of Creditors of Essar Steel India Limited through Authorised Signatory Vs. Satish Kumar Gupta & Ors. observed as follows: "The commercial wisdom of the ....