2022 (7) TMI 773

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....l appearing for the Respondent / Liquidator of M/s. St. John Freight Systems Limited, Chennai - 17. According to the Learned Senior Counsel for the Appellant, the instant Company Appeal (AT)(CH)(Ins) No.238/2022 is preferred by the Appellant, as an 'Aggrieved person', on being dissatisfied with the 'Impugned Order' dated 11.03.2022 in MA/122/2021 in CP/759/IB/2018 passed by the 'Adjudicating Authority' (National Company Law Tribunal, Division Bench-II, Chennai). Earlier, the 'Adjudicating Authority' (National Company Law Tribunal, Division Bench-II, Chennai), while passing the 'Impugned Order' dated 11.03.2022 in MA/122/2021 in CP/759/IB/2018 at Paragraph Nos.8 to 10 had observed the following:- "8. The Learned Counsel for th....

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.... The applicant in pg.no.18 of the application has tabulated the comparison of liquidation value, quoted value along with the voting percentage which did not meet the 66% of the stakeholders vote. It is evident herein that Proposal - A shows up to be Rs.137.54 Crore which is mere closer to that of Rs.147.72 Crore, the liquidation value. The liquidator in this situation as the SCC is unable to meet the vote not less than 66% has come up with the reasons recorded in the application to fix Proposal - A as the base price and go ahead with Swiss Challenge method among the other prospective buyers including the EoI received after the specified timeline. 10. Heard the submission made by the Learned Counsel for the Applicant and perused the....

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....egard the 'Appellant' seeks the 'aide' of the 'Order' of the 'Hon'ble Supreme Court' dated 10.01.2022 in a suo motu Writ Petition (C ) No.3 of 2020 and thereby and wherein the 'Period of Limitation' was extended up to '30 days' and it is a 'fervent plea' of the 'Appellant side' as that the 'Instant Company Appeal (AT)(CH)(Ins) No.238/2022' is well within the 'Period of Limitation'. Per contra, the Learned Counsel for the Respondent Mr. T.K. Bhaskar appearing for the Liquidator / Respondent contends that the present 'Company Appeal (AT)(CH)(Ins) No.238/2022', on the file of this 'Tribunal', is clearly 'barred by Limitation', based on the fact that the 'Impugned Order' was passed on 11.03.2022 in MA/122/2021 in CP/759/IB/2018, '30 days' pe....