The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) regarding a Section 7 application filed by UCO Bank. The Adjudicating Authority had previously passed an order, which was challenged by the Suspended Director of the Corporate Debtor. The appeal was allowed by the Tribunal, and the matter was remanded back to the Adjudicating Authority for reconsideration after hearing all parties with respect to financial statements submitted by a Chartered Accountant (CA). The Appellant raised concerns about certain documents called by the Adjudicating Authority from the CA. The Tribunal had previously found a miscarriage of justice because the Corporate Debtor was not given an opportunity to comment on
…UCO Bank filed a Section 7 application, which was admitted by an order dated 2023-12-12. The Suspended Director of the Corporate Debtor filed an appeal against this order. The Tribunal allowed the appeal and remanded the matter back to the Adjudicating Authority for reconsideration. The Appellant raised concerns about documents called by the Adjudicating Authority from the Chartered Accountant (CA). The Adjudicating Authority extended the time for filing a reply and directed copies from the CA. The key fact is that the matter was remanded to the Adjudicating Authority to decide again in accordance with law after hearing all the parties with respect to Financial Statement which has been submitted by the CA.
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The application filed…
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The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) regarding a Section 7 application filed by UCO Bank. The Adjudicating Authority had previously passed an order, which was challenged by the Suspended Director of the Corporate Debtor. The appeal was allowed by the Tribunal, and the matter was remanded back to the Adjudicating Authority for reconsideration after hearing all parties with respect to financial statements submitted by a Chartered Accountant (CA). The Appellant raised concerns about certain documents called by the Adjudicating Authority from the CA. The Tribunal had previously found a miscarriage of justice because the Corporate Debtor was not given an opportunity to comment on
…UCO Bank filed a Section 7 application, which was admitted by an order dated 2023-12-12. The Suspended Director of the Corporate Debtor filed an appeal against this order. The Tribunal allowed the appeal and remanded the matter back to the Adjudicating Authority for reconsideration. The Appellant raised concerns about documents called by the Adjudicating Authority from the Chartered Accountant (CA). The Adjudicating Authority extended the time for filing a reply and directed copies from the CA. The key fact is that the matter was remanded to the Adjudicating Authority to decide again in accordance with law after hearing all the parties with respect to Financial Statement which has been submitted by the CA.
The application filed…
The Tribunal allowed the appeal against the…
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