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Judgment
ORDER
207)(a) IA(IBC)/44(CHE)2023 in IA/558/2021 in IBA/1263/2019
Ld. Counsel for the Applicant is present.
Ld. Liquidator Mr. Shyam Sundar is present in person.Ld. Counsel Mr. SriramVenkatavaradan for the 1st Respondent in IA(IBC)/44(CHE)2023.
Ld. Counsel Mr. Anish GK for R3.
Ld. Counsel Mr. Anish GK for Kotak Mahindra Bank was directed to make good the amount Rs.22,99,898/- which have been wrongly credited to the frozen account of M/s. Ultra Tiles Pvt Ltd. The Counsel for the Kotak Mahindra Bank stated that he has to take instructions from the bank.
The Counsel for the Liquidator as well as the Liquidator stated that the amount has been wrongly adjusted by the Kotak Mahindra Bank and the same is payable to the Applicant. Therefore Kotak Mahindra Bank is directed to make good the above amount within 2 weeks.
Application is posted for hearing on 25.04.2024.
207)(b) IA(IBC)/609(CHE)2024 in IBA/1263/2019
Ld. Liquidator Mr. Shyam Sundar is present in person.
This is an Application seeking extension of Liquidation period by 12 months until 01.03.2025. The liquidator stated that they have certain issues with MIDC and their consent is required for execution of the agreement. They are already in the process of taking up the matter with Maharashtra Industrial Development Corporation (MIDC).
Considering the facts and circumstances stated above, the Liquidation period is extended by 12 months until 01.03.2025.
Application allowed and the case is disposed off.