The case involves multiple company appeals related to insolvency proceedings. The Appellate Tribunal is addressing concerns regarding the auction of company property by the Liquidator and the interpretation of an interim order dated April 20, 2018. The Liquidator sought clarification on whether auctions completed before the order should be affected.
Several company appeals (AT) related to insolvency are consolidated: No. 15 of 2018 (Chandu Laxman Chavan vs. Union of India), No. 335 of 2017 (Indian Overseas Bank vs. Kamineni Steel & Power India Pvt. Ltd.), No. 23 of 2018 (United Seamless Tabulaar Pvt. Ltd. vs. Kamineni Steel & Power India Pvt. Ltd.), and No. 45 of 2018 (Kamineni Steel & Power India Pvt. Ltd. vs. Indian Bank). An interim order dated April 20, 2018, was issued. The Liquidator sought clarification regarding the auction of company property, specifically whether auctions completed before the April 20, 2018, order were subject to the order's restrictions. The Liquidator argued that auctions had been completed before the order was passed. The key fact is the timing of the auctions relative to
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Appellate Tribunal…
Appellate Tribunal clarified the interim order,…
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The case involves multiple company appeals related to insolvency proceedings. The Appellate Tribunal is addressing concerns regarding the auction of company property by the Liquidator and the interpretation of an interim order dated April 20, 2018. The Liquidator sought clarification on whether auctions completed before the order should be affected.
Several company appeals (AT) related to insolvency are consolidated: No. 15 of 2018 (Chandu Laxman Chavan vs. Union of India), No. 335 of 2017 (Indian Overseas Bank vs. Kamineni Steel & Power India Pvt. Ltd.), No. 23 of 2018 (United Seamless Tabulaar Pvt. Ltd. vs. Kamineni Steel & Power India Pvt. Ltd.), and No. 45 of 2018 (Kamineni Steel & Power India Pvt. Ltd. vs. Indian Bank). An interim order dated April 20, 2018, was issued. The Liquidator sought clarification regarding the auction of company property, specifically whether auctions completed before the April 20, 2018, order were subject to the order's restrictions. The Liquidator argued that auctions had been completed before the order was passed. The key fact is the timing of the auctions relative to
…Appellate Tribunal…
Appellate Tribunal clarified the interim order,…
Sign in to view related legal provisions.