2020 (11) TMI 1047

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....OLA MEMBER (TECHNICAL) For the Applicant/OC: Ms. Shruti Garg and Mr. Madhavam Sharma Advocates For the Respondent/CD: Mr. Manoj Kumar Garg Advocate for Suspended Board of Directors For the Intervener/RP: Mr. Ashok Juneja & Mr. Anoop Kumar Goyal Counsels for R.P. ORDER IA 2025/2020 Counsel for the Resolution Professional is present. Counsel for the Respondents is present. As se....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... and again on 13.02.2019, an amount of Rs. 5.50 lakhs was withdrawn which is in violation of the provisions of section 14 of the CIRP and in spite of the present application for depositing the amount withdrawn to the accounts of the CD, the respondents have not bothered to deposit an amount of Rs. 32 lakhs approximately.  In view of the facts and circumstances stated in the Application and....