This is an appeal against the order dated 28.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, which dismissed the IA (IB) No.1329/KB/2023 filed by the Appellant. The Appellant, the Suspended Director of the Corporate Debtor, challenged the auction notice dated 30.06.2023. The Appellant sought to restrain the Respondent from taking steps related to the auction and to declare the consequential actions as illegal. The Adjudicating Authority rejected the application relying on registered valuers reports obtained by the liquidator in the liquidation proceedings.
The Appellant, Ajay Kumar Agarwal, challenged an order dated 28.08.2023 passed by the Adjudicating Authority (NCLT), Kolkata, which dismissed IA (IB) No.1329/KB/2023. The Appellant, being the Suspended Director of the Corporate Debtor, contested an auction notice dated 30.06.2023. The Appellant sought injunction against the Respondent regarding the auction and a declaration that consequential actions were illegal. The Adjudicating Authority rejected the application based on registered valuers' reports obtained by the liquidator. The Appellant argued that the valuation reports were received late and presented an e-Assessment Slip indicating a higher valuation (Rs.19,18,80,119/-) compared to the auction sale price (Rs. 14.6 Crores). The liquidator submitted that multiple
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This is an appeal against the order dated 28.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, which dismissed the IA (IB) No.1329/KB/2023 filed by the Appellant. The Appellant, the Suspended Director of the Corporate Debtor, challenged the auction notice dated 30.06.2023. The Appellant sought to restrain the Respondent from taking steps related to the auction and to declare the consequential actions as illegal. The Adjudicating Authority rejected the application relying on registered valuers reports obtained by the liquidator in the liquidation proceedings.
The Appellant, Ajay Kumar Agarwal, challenged an order dated 28.08.2023 passed by the Adjudicating Authority (NCLT), Kolkata, which dismissed IA (IB) No.1329/KB/2023. The Appellant, being the Suspended Director of the Corporate Debtor, contested an auction notice dated 30.06.2023. The Appellant sought injunction against the Respondent regarding the auction and a declaration that consequential actions were illegal. The Adjudicating Authority rejected the application based on registered valuers' reports obtained by the liquidator. The Appellant argued that the valuation reports were received late and presented an e-Assessment Slip indicating a higher valuation (Rs.19,18,80,119/-) compared to the auction sale price (Rs. 14.6 Crores). The liquidator submitted that multiple
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