# In the matter of Abhishek Singh, Suspended Director of Manpasand Beverages Ltd. vs. Bansal Industries & Ors.

> NCLAT judgment dated 2023-09-14. Citation: TCN-2023-NCLAT-00207. The case involves an application filed for an amount of Rs.36,11,237/-. The Corporate Debtor…

- **Court:** NCLAT
- **Order date:** 14 Sept 2023
- **Citation:** TCN-2023-NCLAT-00207
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/abhishek-singh-suspended-director-of-manpasand-beverages-ltd-vs-bansal-industrie-dd0a5620

## Summary

### Background

The case involves an application filed for an amount of Rs.36,11,237/-. The Corporate Debtor was under CIRP from 2021-2023. An amount of Rs.32,41,276/- was also offered to the Corporate Debtor but was not accepted. The Counsel for the Respondents refuted this statement.

## Facts

The Appellant filed an application for Rs.36,11,237/- against a Corporate Debtor that was under CIRP from 2021 to 2023. The Appellant offered Rs.32,41,276/- to the Corporate Debtor, which was not accepted. The Appellant is now ready to deposit Rs.36,11,237/- and pay reasonable interest after negotiation. The court directed the Appellant to deposit the amount and allowed the Respondents to file a reply. The relevance of the facts lies in determining the financial obligations and the status of the CIRP process.

## Issues and analysis

### Issue 1: Whether the Appellant should be directed to …

**Ratio:** The court has the power to direct parties to deposit amounts in dispute to ensure

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**Reasoning:** The court directed the Appellant to deposit the amount to ensure that funds are available

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**Interpretation:** This demonstrates the court's authority to manage financial aspects of the case

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**Application:** The Appellant was ordered to deposit Rs.36,11,237/- to demonstrate their

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Abhishek…
- **Respondents:** Manpasand…; Bansal Industries…
- **Advocates:** Abhijeet…; Nachiket…; +7 more

## Timeline

- **2023-09-14 — Order Da…**: Learned Counsel for the Appellant submits that the Application was filed for an amount of…
- **2023-11-20 — Appeal Li…**: The Appeal is listed for…

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