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Judgment
ORDER
It is an application filed u/s. 43 & 44 of the Insolvency and Bankruptcy Code, 2016 assailing a transaction appropriating the shares the Corporate Debtor company pledged to a company called M/s.South (India) Hotels Private Limited (R1) during the moratorium.
Since this Applicant has raised apprehension that for this R1 has already appropriated the impugned shares belonging to the Corporate Debtor during the moratorium, there could be a possibility of R1 inturn creating third party rights over those shares, whereby since R1 has sought time to file counter in this case, we are of the view that until such time it is imperative to restrain R1 from dealing with the Shares of R2 belonging to the Corporate Debtor, therefore, R1 is hereby directed not to create any third party rights over those shares until further orders.
List this matter for hearing on 30.07.2019.