Case Law Details
Arun Kapoor (Resolution Professional of Monarch Brookefields LLP) Vs Shankar W Sawant & Anr. (NCLAT Delhi)
Introduction: The case of “Arun Kapoor Vs Shankar W Sawant & Anr.” at NCLAT Delhi revolves around a dispute involving payments made by allottees to ex-directors that were not reflected in the records of the Corporate Debtor (CD). The Resolution Professional (RP) under Liquidation is directed to admit these claims, with the National Company Law Appellate Tribunal (NCLAT) dismissing the appeal against this decision.
Analysis: The case emphasizes the complexity and importance of transparency in financial transactions, particularly in real estate deals. Key highlights include:
1. Payments to Ex-Directors: The allottees made payments to the ex-directors, raising questions about the validity and legality of these payments, which were not reflected in the records of the CD.
2. The Role of the Resolution Professional: The RP objected to the order of accepting the claim for the specified amount, raising the issue of already approved plans and the current stage of acceptance of the claim.
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