The case involves a writ petition challenging an order passed by the National Company Law Tribunal (NCLT), Hyderabad Bench-I, regarding applications filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC). The applications sought to set aside and grant a stay on a provisional attachment order. The Central Bureau of Investigation (CBI), Bangalore, registered three criminal cases against M/s Best and Crompton Engineering Project Ltd. and their officials for offences punishable under the Indian Penal Code, 1860, based on a complaint by a consortium of banks led by the Central Bank of India. The complaint alleged a criminal conspiracy involving officials of the said concern, who hatched a criminal conspiracy at Chennai and Hyderabad during the period
…The Central Bureau of Investigation (CBI), Bangalore, registered three criminal cases against M/s Best and Crompton Engineering Project Ltd. and their officials for offences punishable under the Indian Penal Code, 1860, based on a complaint by a consortium of banks led by the Central Bank of India. The complaint alleged a criminal conspiracy involving officials of the said concern, who hatched a criminal conspiracy at Chennai and Hyderabad during the period from 2010 to 2013 with the object of defrauding the consortium of the bankers lead by the Central Bank of India. In furtherance of the said conspiracy, Central Bank of India was made to submit a fraudulent Letter of Credit and the amount sanctioned was diverted. The management of M/s Best and Crompton Engineering
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Officials of a concern hatched a criminal…
The management of M/s Best and Crompton…
The case involves a writ petition challenging an order passed by the National Company Law Tribunal (NCLT), Hyderabad Bench-I, regarding applications filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC). The applications sought to set aside and grant a stay on a provisional attachment order. The Central Bureau of Investigation (CBI), Bangalore, registered three criminal cases against M/s Best and Crompton Engineering Project Ltd. and their officials for offences punishable under the Indian Penal Code, 1860, based on a complaint by a consortium of banks led by the Central Bank of India. The complaint alleged a criminal conspiracy involving officials of the said concern, who hatched a criminal conspiracy at Chennai and Hyderabad during the period
…The Central Bureau of Investigation (CBI), Bangalore, registered three criminal cases against M/s Best and Crompton Engineering Project Ltd. and their officials for offences punishable under the Indian Penal Code, 1860, based on a complaint by a consortium of banks led by the Central Bank of India. The complaint alleged a criminal conspiracy involving officials of the said concern, who hatched a criminal conspiracy at Chennai and Hyderabad during the period from 2010 to 2013 with the object of defrauding the consortium of the bankers lead by the Central Bank of India. In furtherance of the said conspiracy, Central Bank of India was made to submit a fraudulent Letter of Credit and the amount sanctioned was diverted. The management of M/s Best and Crompton Engineering
…Officials of a concern hatched a criminal…
The management of M/s Best and Crompton…