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Tribunals and CommissionsDivision Bench(2020) 03 NCLT CK 0095

Mahindra And Mahindra Financial Services Ltd vs Delhi Baroda Road Corporate Carrier Pvt. Ltd

National Company Law Appellate Tribunal, Pricipal Bench, New Delhi · Decided on 2 March 2020

HON’BLE JUDGES
Dr. Deepti Mukesh, J · Santanu Kumar Mohapatra, Member (Technical)
RESULT
Disposed Of
CASE NUMBER
(IB) No. 1665(PB) Of 2018
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Judgment

12 paragraphs · 347 words

CA-1499(PB)/2020

This is an application filed by the RP seeking directions against respondent No. 1, District Commissioner, Bengaluru Rural District, Karnataka to provide assistance for recovery of the subject vehicle and also for direction on Kiran Petroleum, T. Begur Village, Nelamangala Taluk, Bengaluru Rural District, Karnataka (respondent No. 2) for contravention of moratorium imposed vide order dated 24.09.2019.

Ld. Counsel for the RP states that vehicles numbering HR38S1802, HR38Q5478 and HR38R4324 belonging to the corporate debtor was forcibly taken possession by the respondent No. 2. Ld. Counsel further states that RP had contacted R-2 who claimed that the vehicles have been retained so that his dues could be recovered from the Corporate Debtor.

Imposition of moratorium under Section 14 of the Insolvency & Bankruptcy Code is intended to prohibit recovery actions against the assets of the corporate debtor. During the continuance of moratorium period any type of recovery action impacting the assets of Corporate Debtor is clearly prohibited. It is however open for the respondent No. 2 to file its claim before RP, which will be dealt with in accordance with law.

In the facts RP is directed to personally visit or to send authorized person at the site where the vehicles of the corporate debtor have been detained to take possession of the assets of the corporate debtor, when R-1 is directed to assist the RP or its authorized representative in taking over possession of the property of the corporate debtor.

In the meantime respondent No. 2 shall maintain status quo in respect of the property of corporate debtor till the same handed over to RP.

Notice of the application to the non applicant-respondent No. R-1 & R-2 for 17.03.2020.

Process dasti.

List for further consideration on 17.03.2020.

CA-1515(PB)/2020

Third progress report filed by RP annexing the minutes of 5th CoC meeting and copy of expression of interest publishing in form-G is taken on record subject to all just exceptions. The office is directed to maintain the record and put up the same before the bench at the time of final disposal.

CA-1515(PB)/2020 stands disposed of.