2021 (3) TMI 934

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....udicial) And [Dr. Alok Srivastava] Member (Technical) For the Appellant : Mr. E. Omprakash, Sr. Advocate with Ms. Madhusmita Bora, Advocates. For the Respondent : Mr. Krishna Srinivasan, Advocate. ORDER (Virtual Mode) Heard Learned Counsel for the parties. 2. This Appeal has been filed by the Appellant who is arrayed as Corporate Debtor before the Adjudicating Authority in IBA/39....

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....the Respondent Company is a Travel Agent Company owning more than 200 vehicles, for transportation purposes. The Corporate Debtor is disposing of its movable and immovable assets, and creating third party encumbrances. We have heard both the parties. The Respondent shall file the list of assets, vehicles and other details of the Corporate Debtor before the next date of hearing and the Res....

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....onal Creditor did not comply with the directions which were given on the earlier occasion. 5. Learned Counsel states that thereafter suddenly in the Newspaper there was a news as can be seen Annexure A-5-Page 45. On the subsequent date, the present Impugned Order came to be passed. The Learned Counsel submits that the Adjudicating Authority should not have passed such Order directing that the A....

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....btor should not be affected in view of the said order to which Learned Sr. Counsel for the Petitioner represents that the Petitioner should not stand in the way as the restraint order is pertaining only to the sale of the movable and immovable assets of the Corporate Debtor and that the Corporate Debtor is free to carry on its day to day transactions in relation to the ordinary course of this busi....