The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, regarding the liquidation process of 'M/s. Super Agri Seeds Pvt. Ltd.' (Corporate Debtor). The appellant, a shareholder/promoter, filed an application alleging undervaluation of plant and machinery and germ plasm/parent seeds. The Adjudicating Authority rejected the application but directed the 6th respondent, Mr. Kiran Gubba, to compensate for the loss caused to the Corporate Debtor by not protecting/handing over the germ plasm/parent seeds to the liquidator. The Adjudicating Authority also directed R5 to pay the difference amount of Rs.31 lakhs to the Liquidation Account of the Corporate Debtor.
The 'Corporate Insolvency Resolution Process' was initiated against 'M/s. Super Agri Seeds Pvt. Ltd.'- (‘Corporate Debtor'). The Resolution Professional failed to complete the process within the stipulated time, leading to the Corporate Debtor being ordered for liquidation. The Appellant, a Shareholder/Promoter, filed I.A. No. 494 of 2018 alleging undervaluation of Plant and Machinery and Germ Plasm/ Parent Seeds of ‘M/s. Super Agri Seeds Pvt. Ltd.'- ('Corporate Debtor'). The Adjudicating Authority rejected the application but directed R5 to pay the difference amount of Rs.31 lakhs to the Liquidation Account of the Corporate Debtor and R6 to make good the loss caused to the Corporate Debtor by dumping Germ Plasm/ Parent seed. The appellant alleged bias against the
…Sign in to view the parties.
The Adjudicating Authority (National Company…
The certified copy of…
The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, regarding the liquidation process of 'M/s. Super Agri Seeds Pvt. Ltd.' (Corporate Debtor). The appellant, a shareholder/promoter, filed an application alleging undervaluation of plant and machinery and germ plasm/parent seeds. The Adjudicating Authority rejected the application but directed the 6th respondent, Mr. Kiran Gubba, to compensate for the loss caused to the Corporate Debtor by not protecting/handing over the germ plasm/parent seeds to the liquidator. The Adjudicating Authority also directed R5 to pay the difference amount of Rs.31 lakhs to the Liquidation Account of the Corporate Debtor.
The 'Corporate Insolvency Resolution Process' was initiated against 'M/s. Super Agri Seeds Pvt. Ltd.'- (‘Corporate Debtor'). The Resolution Professional failed to complete the process within the stipulated time, leading to the Corporate Debtor being ordered for liquidation. The Appellant, a Shareholder/Promoter, filed I.A. No. 494 of 2018 alleging undervaluation of Plant and Machinery and Germ Plasm/ Parent Seeds of ‘M/s. Super Agri Seeds Pvt. Ltd.'- ('Corporate Debtor'). The Adjudicating Authority rejected the application but directed R5 to pay the difference amount of Rs.31 lakhs to the Liquidation Account of the Corporate Debtor and R6 to make good the loss caused to the Corporate Debtor by dumping Germ Plasm/ Parent seed. The appellant alleged bias against the
…The Adjudicating Authority (National Company…
The certified copy of…