TaxTMI 
TaxTMI 
2022 (9) TMI 913
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.... in person on I.A. No. 955 of 2022. The Appellant while pressing the I.A. No. 955 of 2022 submits that he has preferred the instant Appeal being aggrieved and dissatisfied by the order dated 25.06.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Allahabad Bench) in Company Petition (IB) No. 457/ALD/2019 whereby the Adjudicating Authority dismissed the application filed by the Appellant under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for short IBC) for initiation of 'Corporate Insolvency Resolution Process' of the Corporate Debtor i.e. "Tripathi Hospital Pvt. Ltd.". The Adjudicating Authority has held that the appellant failed to produce any document to show that the appellant has given the money to the ....
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.... immediate stay on sale of immovable property of the company by UBI and SIDBI. 5. The Appellant further relied on another order passed by this Appellate Tribunal in the matter of NUI Pulp and Paper Industries Pvt. Ltd. Vs. M/s. Roxcel Trading GMBH [Company Appeal (AT) (Insolvency) No. 664 of 2019] dated 17.07.2019 whereby this Appellate Tribunal have held in paragraph 12 "........it is always open to the Adjudicating Authority to pass ad-interim order before admitting any application under Section 7 or 9 or 10 of the IBC". Against the said order dated 17.07.2019, Civil Appeal was also filed before the Hon'ble Supreme Court which was dismissed confirming the Order of this Appellate Tribunal. 6. The Appellant further referred to par....
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....nt Company and UBI are not restraining from selling or alienating any third party rights on the assets till the disposal of the Appeal, the Appeal would stand infructuous as it is main objective of the Respondents to sell whole of the assets. 9. The Appellant relied on a judgment of this Appellate Tribunal in Company Appeal (AT) (Ins.) No. 664 of 2019 "NUI Pulp and Paper Industries Pvt. Ltd. Vs. M/s. Roxcel Trading GMBH" wherein this Tribunal has observed as follows: "12. The Appellant having not given any undertaking or made any specific reply and refused to say that they have no such intention, we are of the view that it is always open to the Adjudicating Authority to pass ad-interim order before admitting any application unde....
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.... notice was issued on 31.07.2021 under Section 13(2) but before expiry of 60 days, the possession is claimed to be taken. The Adjudicating Authority has taken into consideration of taking possession by Appellant before expiry of 60 days. The possession having not been taken in accordance with law the title of the property still vests in Corporate Debtor, which need to be protected to safeguard the interests of Corporate Debtor as well as other Creditors. 17. The Order passed by the Adjudicating Authority on 31st December, 2021 indicates that the Status-Quo Order dated 30.09.2021 has been continued till the next date of hearing. We have been informed by the Learned Counsel for the parties that the matter both on I.A. 4516 of 2021 as....