IN THE MATTER OF:
Tulip Star Hotels Ltd. & Anr. …..Appellants
Asset Reconstruction Company(India) Ltd. & Anr. ……Respondents
O R D E R
Learned counsel for the Appellant submitted that while application has been admitted by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench without ascertaining the debt payable and the default as apparent from paragraph 40 of the Impugned order dated 31st May, 2019 to suggest that ‘Interim Resolution Professional’ has been asked to ascertain the debt. Issue Notice on the Respondents by Speed Post. Mr. Vividh Tandon, Advocate along with Mr. Salman Khurshid, Senior Advocate accepts notice on behalf of first Respondent – Asset Reconstruction Company(India) Ltd.
Place the case for ‘admission’ on 22nd July, 2019 along with Company Appeal (AT)(Insolvency) No. 525/2019. In the meantime, the Interim Resolution Professional (IRP) will ensure that the company remains going concern and the manufacturing and production of the company do not suffer; payment of wages to the employees/workmen and supplies during Resolution Process shall be made on time
The Insolvency Resolution Professional will take aid of (suspended) Board of Directors, paid Directors, officers and the employees of the Corporate Debtor. The Banks having account of the corporate debtor will also cooperate with the Resolution Professional to ensure compliance of this order.
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