Mr. Kishore K. Avarsekar and Mr. Abhijeet K. Avarsekar, promoters and suspended directors of Unity Infraprojects Limited, filed an appeal against the Impugned Order.

The Impugned Order directed the Appellants to contribute Rs. 231.64 Crores plus 12% interest per annum to the assets of the Corporate Debtor.

The Appellants argued that the Impugned Order was based on a flawed Forensic Audit Report and did not meet the requirements of Section 66 of the IBC.

The Respondent, Alok Saksena, Liquidator of Unity Infraprojects Limited, argued that the transactions with Magnum Infra Projects Ltd. were fraudulent and involved round-tripping.

Mr. Kishore K. Avarsekar and Mr. Abhijeet K. Avarsekar, promoters and suspended directors of Unity Infraprojects Limited, filed an appeal against the Impugned Order.

The Impugned Order directed the Appellants to contribute Rs. 231.64 Crores plus 12% interest per annum to the assets of the Corporate Debtor.

The Appellants argued that the Impugned Order was based on a flawed Forensic Audit Report and did not meet the requirements of Section 66 of the IBC.

The Respondent, Alok Saksena, Liquidator of Unity Infraprojects Limited, argued that the transactions with Magnum Infra Projects Ltd. were fraudulent and involved round-tripping.