The case involves a writ petition filed by Sunil Tandon, an erstwhile independent Non-Executive Director of respondent no.3 company, challenging an order dated 08.07.2021 and a letter dated 16.07.2021 issued by respondent no.1. These actions included the filing of C.P. No. 295/MB/2021 before the NCLT, Mumbai Bench. The respondent no.3 company is part of the Videocon Industries Ltd. group, which was undergoing corporate insolvency resolution process (CIRP) before the NCLT, Mumbai Bench. The petitioner argues that the NCLT, Mumbai Bench lacked jurisdiction to entertain the petition under Section 241(2) of the Companies Act, 2013, as only the Principal Bench at New Delhi has exclusive jurisdiction for such matters filed by the Central Government.
Sunil Tandon, the petitioner, was an independent Non-Executive Director in respondent no.3 company until 18.05.2018. Respondent no.3 is part of the Videocon Industries Ltd. group. Videocon Industries Ltd. was admitted under the IBC Framework and subjected to CIRP before the NCLT, Mumbai Bench, on 31.08.2018. The NCLT, Mumbai, consolidated the insolvency process of all Videocon group companies on 08.08.2019. Twin Star Technologies Ltd.'s resolution plan was approved by the NCLT, Mumbai Bench, on 08.06.2021, but the NCLAT stayed the order on 19.07.2021. The Supreme Court dismissed appeals against the NCLAT order on 13.08.2021. Respondent no.1 passed an Impugned Order on 08.07.2021, directing the SFIO to investigate Videocon Industries Ltd. and its group companies.
…Sign in to view the parties.
Sunil Tandon resigned…
CIRP commenced against…
Sign in to view related legal provisions.
The case involves a writ petition filed by Sunil Tandon, an erstwhile independent Non-Executive Director of respondent no.3 company, challenging an order dated 08.07.2021 and a letter dated 16.07.2021 issued by respondent no.1. These actions included the filing of C.P. No. 295/MB/2021 before the NCLT, Mumbai Bench. The respondent no.3 company is part of the Videocon Industries Ltd. group, which was undergoing corporate insolvency resolution process (CIRP) before the NCLT, Mumbai Bench. The petitioner argues that the NCLT, Mumbai Bench lacked jurisdiction to entertain the petition under Section 241(2) of the Companies Act, 2013, as only the Principal Bench at New Delhi has exclusive jurisdiction for such matters filed by the Central Government.
Sunil Tandon, the petitioner, was an independent Non-Executive Director in respondent no.3 company until 18.05.2018. Respondent no.3 is part of the Videocon Industries Ltd. group. Videocon Industries Ltd. was admitted under the IBC Framework and subjected to CIRP before the NCLT, Mumbai Bench, on 31.08.2018. The NCLT, Mumbai, consolidated the insolvency process of all Videocon group companies on 08.08.2019. Twin Star Technologies Ltd.'s resolution plan was approved by the NCLT, Mumbai Bench, on 08.06.2021, but the NCLAT stayed the order on 19.07.2021. The Supreme Court dismissed appeals against the NCLAT order on 13.08.2021. Respondent no.1 passed an Impugned Order on 08.07.2021, directing the SFIO to investigate Videocon Industries Ltd. and its group companies.
…Sunil Tandon resigned…
CIRP commenced against…
Sign in to view related legal provisions.