2021 (5) TMI 576

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....., Member (J) And Harish Chander Suri, Member (T) For the Appellant : Kanishk Khetan, Advocate, Arun Kumar Gupta, PCA and Party-in-Person For the Respondents : Rishav Banerjee and Patit Paban Bishwal, Advocates ORDER Rajasekhar V.K., Member (J) 1. This Court convened through video conferencing. 2. This application has been filed by Mr. Anil Goel, Liquidator of Varssana Ispat Limi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dingly, the funds were disbursed amongst the stakeholders of the corporate debtor. (c) At this juncture, another application was preferred by the respondent herein against disbursement of funds by the applicant. Vide order dated 26.06.2020, this Bench directed the stakeholders to whom funds were distributed, to keep the funds in an interest-bearing account of the corporate debtor. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....4. Mr. Rishav Banerjee, learned counsel appearing for the respondent, opposes the prayer for withdrawal. He accused the applicant/liquidator of indulging in forum shopping. Once an appeal had been filed before the Hon'ble NCLAT, the applicant ought to have stayed his hand and not filed IA 1165/KB/2020 for clarification of the order dated 26.06.2020. 5. Mr. Rishav Banerjee, learned counsel, ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed another application here seeking clarification of the order dated 26.06.2020. This is actuated by malice. Therefore, the liquidator ought not to be let off scot-free. 7. We have heard the applicant/liquidator appearing as party in person, and the learned counsel for the liquidator. 8. It is true that having once approached the Hon'ble NCLAT in appeal against the order dated 26.06.2020....