Bikki Raveendra Babu, Member - (1.) Northway Spaces Limited and Diamond Projects Limited have filed this application seeking a direction against SICOM Limited from not taking * possession of the properties of Northway Spaces Limited and Diamond Projects Limited, which are group/sister concerns of Diamond Power Transformers Limited, under the SARFESAI, 2002 till the completion of the Corporate Insolvency Resolution Process period, during which moratorium was imposed and to follow the spirit of the Insolvency and Bankruptcy Code, 2016 ("LB. Code" for short)
(2.) The facts, in brief, that are germane for the disposal of this application are as follows :-
(3.) This Adjudicating Authority, on the basis of a petition filed by Diamond Power Transformers Limited (Corporate Debtor) through Mr. Jayramrao Chandravadan Marathe, commenced Corporate Insolvency Resolution Process (CIRP) by appointing IRP and imposed moratorium for a period of 180 days on the assets of the Corporate Debtor, namely, Diamond Power Transformers Limited. In the said application, being CP(IB) No.28 of 2017, the 1st Respondent herein is shown as the 3rd Respondent, which is one of the financial creditors of the Corporate Debtor.;