In the matter of Kari Venkateswarlu, Liquidator Vs. Keshan Trading Corporation Company Appeal (AT) (Ins) No.1165 of 2019

In this matter, the question which is arising is relating to the auction sale by the Liquidator through e-auction procedure and the rights of the Liquidator under IBBI (Liquidation Process) Regulations, 2016, Regulation 33 read with Schedule 1 Clause 11.

It appears necessary that the Appellant – Liquidator files documents with regard to the first round which was carried out for the purpose of e- auction and also the papers relating to the second round which was adopted, which has now led to the present dispute according to Liquidator. The Counsel for the Respondent is submitting that actually it was third round. The Respondent may file Reply within a week along with documents it wants to rely on.

Appellant states that the Adjudicating Authority (National Company Law Tribunal, Hyderabad Bench) is pressing hard to execute its Order and execute conveyance.

Pending Appeal, execution of the Impugned Orders we stay.

List the Appeal for hearing in ‘Orders’ category on 14th January, 2020.

[Justice A.I.S. Cheema]

Member (Judicial)

[V.P. Singh]

Member (Technical)