TaxTMI 
TaxTMI 
2022 (8) TMI 549
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....iram Panchu, Senior Advocate For Mr. Ramasamy Meyyappan For the Respondent No.1 : Mr. V. Venkatasivakumar, erstwhile Liquidator (in person) ORDER ( VIRTUAL MODE ) Justice M. Venugopal, Member ( Judicial ) : I.A. No. 584 of 2022 in Company Appeal (AT) (CH) (INS) No. 269 of 2022: Applicants' Submissions: According to the Learned Senior Counsel for the Applicants, the Appellants in Comp. Appeal (AT) (CH) (INS) No. 207 of 2022, before this `Tribunal', on being dissatisfied with the `impugned order' dated 02.03.2022, passed by the `Adjudicating Authority' (National Company Law Tribunal, Chennai) providing Police protection to the `Liquidator' to take over the custody of the `School' and the `Petrol Pump' that was functioning so far, on the properties, leased out to `Rajeswari Educational Society' and the `Indian Oil Corporation' by the `Corporate Debtor' to run the `School' and the `Petrol Pump'. 2. It is represented on behalf of the `Applicants' / `Proposed Impleaders' that the `Liquidator' secured the `Police protection' for getting the `Trust Management' and the people running Petrol Pump, evicted from the respective premises in I.A. No. 229 of 2021, filed by ....
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....ints out that the company was shut down in 2015 and since then, there is no economic activity and that all the `workers' were paid their dues and there is no litigation pending in any `Court of Law', in regard to the payment of `wages'. 7. Continuing further, it is the plea of the Rs. 1st Respondent/erstwhile Liquidator' that the `Promoters' being aged, are not in a position to control their `Clerks', who became `Senior Officials' by forging the documents and claiming control over the `School', `Petrol Bunk' and `Gas Agency', had not shown the evidence of ownership/control against the said `Assets', which at the moment is being exploited by these persons and many of the Signatories have no connection whatsoever, to the issues raised in the IA/584/2022. 8. Besides these, the `Applicants / Proposed Impleaders', have approached this `Appellate Tribunal', with unclean hands, without fulfilling the `Orders' of the `Adjudicating Authority', Chennai, and as such, they have no right to agitate and pray for relief before this `Tribunal', and IA/584/2022 is liable to be dismissed by awarding heavy costs. I.A. No. 585 of 2022 in Company Appeal (AT) (CH) (INS) No. 269 of 2022: Appl....
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.... years at the rate of Rs.900/- per tonne and the present market rate is Rs.3,500/- per tonne. Further, the `Applicants' were able to take the Watsapp copy of the times office register reflecting eight lorries `Ferro Manganese Slag' which was lifted from Rayagada Lands on 06.07.2022, i.e., after this `Appellant' was removed as `Liquidator'. Moreover, in previous proceedings that this `Liquidator' had shifted the company's office to his `House' and his `Family Members' had started interfering in relation to the discharge of duties by the `Liquidator'. 14. It is pointed out on behalf of the `Applicants' that this Appellant paid off one Operational Creditor's (Lakshmi Organics Limited's Claim) during these proceedings, despite there is a mandate under Section 53 of the I & B Code, 2016, that payment to the Creditors shall be made only as per `waterfall mechanism', specified under Section 53 of the Code. Besides this, the Applicants filed IA/579/2022, upon seeing the scrap purchaser cutting the machinery of Chagallu sugar factory into scrap, which is worth Crores of Rupees. 15. The categorical stand of the `Applicants' is that the `company' belongs to them and the said `value' of ....
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....n the land leased out by the `Corporate Debtor' to the `Educational Trust' and the `Petrol Pump' is run by the `Co-operative Society' on the `Land' leased out by the `Corporate Debtor' and therefore, it was mentioned that the `Liquidator', at best, can step into the shoes of the `Corporate Debtor' as `Lessor', but not to see them, evicted from the `School' and also from the `Petrol Pump', based on the `impugned order' of the `Police protection'. 21. It is the plea of the `Applicants' that because of the hardships caused by the `Liquidator', if he is permitted to continue as the `Liquidator', it will be an irreparable loss to the `company', to the persons managing the `School' and `Petrol Pump', to the `Creditors', and the `Shareholders'. As such, the `Applicants' hardships shall also be heard, prior to the `adjudication', as to the aspect of the `impugned order', passed by the `Adjudicating Authority' on 01.07.2022 is liable to be set aside or not, for which, they may be permitted by this `Tribunal', to be arrayed as R8 and R9 in the instant Comp. App (AT) (CH) INS. No. 269 of 2022, on the file of this `Tribunal'. 22. Conversely, it is the contention of the Rs. 1st Respondent....
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..... S. Hari Karthik as the `Liquidator' of the `Corporate Debtor' / `The Jeypore Sugar Company Ltd.', by directing the erstwhile `Liquidator' to handover the charges to the newly appointed `Liquidator', within 7 days from the date of passing of the order. 27. In this connection, it is not out of place for this `Tribunal' to make a pertinent mention that the `Applicants' in IA/584/2022 in Comp. App (AT) (CH) (INS) No. 269 of 2022 before this `Tribunal' has preferred Comp. App (AT) (CH) INS. 207 of 2022 against the erstwhile `Liquidator' Mr. V. Venkatasivakumar, Appellant in Comp. App (AT) (CH) (INS) No. 269 of 2022 and 6 Others, as against the `Order' passed by the `Adjudicating Authority', NCLT, Chennai Bench in IA/229(CHE)/2021 in IA/1155/IB/2020 in CP/1307/IB/2018. 28. In reality, IA/229(CHE)/2021 in CP/1307/IB/2018, the Official Respondents Nos. 7 to 11 therein, were directed to provide Police protection to the `Liquidator' (Mr. V. Venkatasivakumar) so as to enable him to discharge his duties as `Liquidator'. Arraying of Parties: 29. It must be borne in mind that there is no provision in the I & B Code, 2016, that enables the `Creditors' other than those who triggered ....