TaxTMI 
TaxTMI 
2023 (12) TMI 1150
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....e 'Adjudicating Authority', National Company Law Tribunal, Chennai Bench-II, in IA/755/2022 in CP/1307/IB/2018, whereby and whereunder the Adjudicating Authority has made some observations against the erstwhile Liquidator / Mr. V. Venkata Sivakumar / the Appellant herein and directed the Registry to forward a copy of the compliance affidavit and the report of the Court Commissioner to IBBI and Insolvency Professional Agency. The observations, in the Impugned Order, relevant to this Appeal, are extracted as hereunder : 2. Mr. V. Venkata Sivakumar, the erstwhile Liquidator, submitted that he was not present during the hearing and an adverse Order was passed without giving the Appellant an opportunity of being heard. It is submitted that the ....
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....submitted that the aforenoted observations were made by the Adjudicating Authority ignoring the Advocate Commissioner's report. It is submitted that the Advocate Commissioner reached the factory at 10.00 AM and left at 05.00 PM after having lunch for 2 hours with one legal assistant and therefore, the said increase from Rs. 50,000/- to Rs. 4,00,000/- as remuneration, is unjustified. It is submitted that the new Liquidator is in the habit of making false statements. 5. Learned Counsel for the First Respondent / the new Liquidator submitted that the Adjudicating Authority had, by a reasoned Order dated 01.07.2022, replaced the Appellant on specific grounds, and directed him to handover the control and custody of the Corporate Debtor and its ....
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....hat the Appellant had never raised any objection or filed any reply to the Impugned Application or Affidavits filed by R1 during the 8 ½ months of proceedings before the Adjudicating Authority. It is also submitted that the Appellant is strangely questioning the working hours of the court appointed Advocate Commissioner and his fees which is unwarranted. It is also submitted that the Appellant was never present during several hearings and despite being the IRP, RP and subsequently the Liquidator, the Appellant did not have any stock sheet to show the records or assets of the Corporate Debtor taken over during his tenure. Learned Counsel submitted that all scandalous remarks made against the First Respondent and other parties in the g....
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....022, the Adjudicating Authority posted the matter for hearing on 16.08.2022 and in the meantime, directed both the parties to meet personally and cooperate with each other. The Appellant was present and heard on all these dates. 9. It is significant to mention that in the Order dated 23.12.2022, when the Appellant was heard, an Advocate Commissioner Mr. B. Dhanaraj was appointed to take stock of what documents have been submitted and list the documents that are still to be handed over by the Appellant to the new Liquidator. The facts of the case establish that this situation of stalemate between the parties had necessitated the appointment of this Advocate Commissioner. The Application IA No. 755 / 2022 was further listed for hearing on 31....