This is an appeal against the order dated 22.12.2023 passed in I.A. No. 6675/2023. The appellant is an auction purchaser in the liquidation of the Corporate Debtor, M/s Hema Engineering Industries Ltd. The plant and machinery were sold to the Appellant on 13.04.2023. The appellant could not remove the plant and machinery and had filed an application seeking an extension of time, which was granted for three months by an order dated 09.11.2023. An earlier appeal, Company Appeal (AT)(Insolvency) No. 218 of 2023, filed by the Appellant, was disposed of on 02.02.2024. I.A. No. 6675/2023 was filed impleading Police Authorities and Respondent Nos. 1 to 3 and Respondent No. 4 as one Mr. D. Venkatesh Kumar, proprietor of M/s Quick Sort Traders and Liquidator. The Applicant's
…Adi Impex Infra Services, the Appellant, was an auction purchaser in the liquidation of M/s Hema Engineering Industries Ltd, the Corporate Debtor. The Appellant purchased plant and machinery on 2023-04-13 but could not remove them due to law and order issues. The Appellant sought an extension of time, which was granted. The Appellant filed I.A. No. 6675/2023 seeking police protection to remove the assets. The Adjudicating Authority dismissed the application, stating that the Liquidator had already sold the asset to a third party. The Appellant argued that the Adjudicating Authority should have provided police protection and considered the application on its merits. The Appellant also mentioned an MOU with Quick Sort Traders, which was later terminated. The police did
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This is an appeal against the order dated 22.12.2023 passed in I.A. No. 6675/2023. The appellant is an auction purchaser in the liquidation of the Corporate Debtor, M/s Hema Engineering Industries Ltd. The plant and machinery were sold to the Appellant on 13.04.2023. The appellant could not remove the plant and machinery and had filed an application seeking an extension of time, which was granted for three months by an order dated 09.11.2023. An earlier appeal, Company Appeal (AT)(Insolvency) No. 218 of 2023, filed by the Appellant, was disposed of on 02.02.2024. I.A. No. 6675/2023 was filed impleading Police Authorities and Respondent Nos. 1 to 3 and Respondent No. 4 as one Mr. D. Venkatesh Kumar, proprietor of M/s Quick Sort Traders and Liquidator. The Applicant's
…Adi Impex Infra Services, the Appellant, was an auction purchaser in the liquidation of M/s Hema Engineering Industries Ltd, the Corporate Debtor. The Appellant purchased plant and machinery on 2023-04-13 but could not remove them due to law and order issues. The Appellant sought an extension of time, which was granted. The Appellant filed I.A. No. 6675/2023 seeking police protection to remove the assets. The Adjudicating Authority dismissed the application, stating that the Liquidator had already sold the asset to a third party. The Appellant argued that the Adjudicating Authority should have provided police protection and considered the application on its merits. The Appellant also mentioned an MOU with Quick Sort Traders, which was later terminated. The police did
…Plant and machinery…
An extension of three months was granted to…
Sign in to view related legal provisions.