NCLT Orders director to Refund Diverted Rental Income

Ganesh Venkata Siva Rama Krishna Remani Vs Puneet P. Bhatia & others (NCLT Mumbai) The application before the National Company Law Tribunal (NCLT), Mumbai Bench, was filed by the Resolution Professional in the Corporate Insolvency Resolution Process (CIRP) of Barracks Retail India Private Limited under sections 66(1), 68, 70, 72, 73, and 74 of the Insolvency and Bankruptcy Code, 2016. After approval of the resolution plan, ASREC (India) Private Limited continued the proceedings in place of the original applicant. The application sought directions against the former director and other respo...