TaxTMI 
TaxTMI 
2020 (9) TMI 1115
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....I. The CD is under order of CIRP vide order in C.P. (I.B.) No. 1440 of 2018 dated 20th September 2019 by the NCLT Kolkata Bench and appointed Mr. Uday Narayan Mitra as Interim Resolution Professional and later on vide order dated 30th October, 2019 the said Interim Resolution Professional was duly confirmed as the Resolution Professional. 2. Upon being declared as the highest bidder by the Recovery Officer, Kolkata Debt Recovery Tribunal-II, the applicant had made payment of the entire sale consideration together with poundage Fee amounting to a total sum of Rs. 8,27,02,000/- by the order of the Recovery Officer dated 17th September 2019. On 4th October 2019 a Sale Certificate in respect of the said two properties was also issued in favour....
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....id Committee of Creditors completely suppressed the fact that CP(IB) No. 1440 of 2018 had been instituted by the Dena Bank under Section 7 of the I&B Code, 2016 against the Corporate Debtor and thereby the recovery officer proceeded with the sale despite moratorium was in force from 20th September, 2019. According to him, the recovery officer's proceedings with effect from, 20th September, 2019 onwards is to be ignored as it violates section 14 of the Code. He highlighted the list of events as shown below for stressing that the recovery officer has proceeded with the sale confirmation and set aside the sale without any power or jurisdiction. 4th October, 2019 The matter was once again taken up on 4th October, 2019 and the Recovery Offi....
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.... Banks and that the banks have not transferred the amount to the account of the CD and that there cannot be any direction on the Resolution Professional to refund monies it never had in the first place. Notwithstanding the same, it is clearly and equivocally stated that the RP has no objection to the refund of the monies given by the Applicant by the concerned Certificate Holder Banks. The resolution plan in respect of the Corporate Debtor has already been approved by the COC and application for approval of the same has been filed. Upon the above said submission the Ld. Counsel prays for issuing directions if any deem fit to the AA. 7. Smt. Kanimozhi VC, Chief Manager, SBI representing CoC though was present in the virtual room, she was un....