The appeal challenges an order dated 22.12.2023 passed by the NCLT, New Delhi, Court – III in IA No. 2162/2020, filed by the Resolution Professional (RP) under Section 19(2) read with Sections 14, 43 & 74(2) of the Insolvency and Bankruptcy Code, 2016.
Corporate Insolvency Resolution Process (CIRP) against Trend Flooring Pvt. Ltd. commenced on 09.10.2019.
A loan facility was obtained by Trend Flooring Pvt. Ltd. along with Mr. Arvind Narayan Singh for purchase of a vehicle.
After CIRP initiation, Rs. 8,92,980/- was paid into the loan account maintained by ICICI Bank from an account with HDFC Bank in the name of 'BORN TO RIGHT'.
The said account was closed in January 2020, and a NoC was issued for the vehicle.
The RP inquired about the whereabouts of vehicles registered in the name of the corporate debtor.
ICICI Bank provided details to the RP, leading to the filing of I.A. 2162/2020.
The adjudicating authority directed ICICI Bank to reverse the payment of Rs. 8,92,980/-.
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Corporate Insolvency…
The account from which…
The appeal challenges an order dated 22.12.2023 passed by the NCLT, New Delhi, Court – III in IA No. 2162/2020, filed by the Resolution Professional (RP) under Section 19(2) read with Sections 14, 43 & 74(2) of the Insolvency and Bankruptcy Code, 2016.
Corporate Insolvency Resolution Process (CIRP) against Trend Flooring Pvt. Ltd. commenced on 09.10.2019.
A loan facility was obtained by Trend Flooring Pvt. Ltd. along with Mr. Arvind Narayan Singh for purchase of a vehicle.
After CIRP initiation, Rs. 8,92,980/- was paid into the loan account maintained by ICICI Bank from an account with HDFC Bank in the name of 'BORN TO RIGHT'.
The said account was closed in January 2020, and a NoC was issued for the vehicle.
The RP inquired about the whereabouts of vehicles registered in the name of the corporate debtor.
ICICI Bank provided details to the RP, leading to the filing of I.A. 2162/2020.
The adjudicating authority directed ICICI Bank to reverse the payment of Rs. 8,92,980/-.
…Corporate Insolvency…
The account from which…