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NCLT Allows Application, Directs Restoration of Rs. 5.14 Crore in Alleged Fraudulent Transactions Under IBC
Case Law Details
- Case Name
- Jaykishan R Rathi Liquidator of Baid Industries Private Limited Vs Ashok Kumar Baid Suspended Board of Director of Baid Industries Pvt. Ltd.& Ors. (NCLT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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Jaykishan R Rathi Liquidator of Baid Industries Private Limited Vs Ashok Kumar Baid Suspended Board of Director of Baid Industries Pvt. Ltd.& Ors. (NCLT Ahmedabad)
The National Company Law Tribunal (NCLT), Ahmedabad, decided an application filed by the Resolution Professional, later pursued by the Liquidator, under Sections 45, 49, 68, 69, 70(a), (b), 70(e), 236 and 67 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Regulation 35A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and Rule 11 of the NCLT Rules, 2016. The applic...
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