In the matter of Sri Manohar Reddy Vs. Edelweiss Asset Reconstruction Company Ltd. & Anr. CA(AT)(Ins) No. 395 of 2019
In the matter of Sri Manohar Reddy Vs. Edelweiss Asset Reconstruction Company Ltd. & Anr. CA(AT)(Ins) No. 395 of 2019
If the Appellant intends to settle, it will have to pay from its own
pocket or by taking loan or from other sources but not by selling the
‘Corporate Debtor’.
Learned counsel for the Appellant submits that a third party from outside has approached to purchase the assets, in question.
However, since ‘Corporate Debtor’ is undergoing ‘Corporate Insolvency Resolution Process’, the Appellant is not entitled to enter into any agreement with the third party to sell the ‘Corporate Debtor’ or its assets. If the Appellant intends to settle, it will have to pay from its own pocket or by taking loan or from other sources but not by selling the ‘Corporate Debtor’.
Post the case ‘for orders’ on 9th January, 2020.
(Justice S.J. Mukhopadhaya)
Chairperson
(Justice Bansi Lal Bhat)
Member(Judicial)
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In the matter of Sri Manohar Reddy Vs. Edelweiss Asset Reconstruction Company Ltd. & Anr. CA(AT)(Ins) No. 395 of 2019
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