IN THE MATTER OF:
Gati Infrastructure Pvt. Ltd. & Ors. …Appellants
Sew Infrastructure Ltd. & Ors. …Respondents
O R D E R
Counsel for Appellant states that Appellant No.1 is subsidiary of the Corporate Debtor and Appellant No.2 is Financial Creditor of the Corporate Debtor and Appellant No.3 is shareholder as well as Financial Creditor of the Corporate Debtor. This Appeal is filed as Respondent No.1 – Financial Creditor filed Section 7 proceeding before the Adjudicating Authority – National Company Law Tribunal, Hyderabad and the proceeding has been admitted.
The Respondent No.2 submitted that against the same Impugned Order dated 7th May, 2019, one Company Appeal No.537 of 2019 has also been filed by another Director of the Corporate Debtor and Notice has been issued in that matter and the same is coming up on 15th July, 2019.
Notice issued. Requisite along with process fee, if not filed, be filed within two days. If the Appellant provides the e-mail address of Respondents, let notice be also issued through e-mail.
In the meantime, the IRP/‘Resolution Professional’ 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 are made on time and if any material is supplied during ‘Corporate Resolution Process’, the payment must be paid to the supplier/creditor. The ‘Insolvency Resolution Professional’ will also take aid of (suspended) Board of Directors, paid Directors and employees. The Banks having accounts of the ‘Corporate Debtor’ will also cooperate with the ‘Insolvency Resolution Professional’ to ensure compliance of this order.
Click here to read full order: Gati Infrastructure Pvt. Ltd. & Ors. Vs. Sew Infrastructure Ltd. & Ors.