2019 (11) TMI 1706

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....y<br>S.J. Mukhopadhaya, Chairperson, A.I.S. Cheema, Member (Judicial) And&nbsp;Kanthi Narahari,&nbsp;Member (Technical) For Appellant : Mr. Arun Kathpalia, Senior Advocate with Mr. A.K. Mishra and Mr. Siddharth Sharma, Advocates. For Respondents: Mr. Sandeep Bajaj and Mr. Soayib Qureshi, Advocates for Liquidator. Mr. Sunil Fernandes, Mr. Tushar Gujjar, Mr. Manish Sukhani and Mr. Darpan Sachd....

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....nal's order dated 28th August, 2019 with the following observations: "17. For the reason aforesaid, while we hold that the order of 'Liquidation' was uncalled for, we set aside the impugned order dated 8th May, 2019 passed by the Adjudicating Authority and allow the Appellant (who filed the application of Section 7 - 'Andhra Bank') to withdraw the application. 18. In the result, ....

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....ay, 2019 is set aside, all the observations made against Mr. Sundaresh Bhat, 'Resolution Professional' also stand expunged. 20. All these appeals stand disposed of with liberty to the 'Enforcement Directorate', the 'Central Bureau of Investigation', the 'Ministry of Corporate Affairs', 'Securities and Exchange Board of India' and the other Authorities to continue/take any action against t....

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....ons and directions." 2. An Interlocutory Application No. 2787 of 2019 has been filed by the Applicant/ Liquidator Ms. Mamta Binani for clarification of the order dated 28th August, 2019. 3. Having heard learned counsel for the parties, we make it clear that the 'Promoters' and or 'Shareholders' and or 'Directors' have been allowed to pay the dues in their individual capacity from their respe....