# In the matter of Mr. Rohit Jasoria
Vs.
Aargus Global Logistics Pvt. Ltd. Through its
Authorized Representative & Ors. Comp. App. (AT) (Ins.) No. 587 & 588 of 2022

> NCLAT judgment dated 2022-07-27. Citation: TCN-2022-NCLAT-00319. These are two appeals filed against the order dated 21.01.2022 passed by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 27 Jul 2022
- **Citation:** TCN-2022-NCLAT-00319
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mr-rohit-jasoria-vs-aargus-global-logistics-pvt-ltd-through-its-authorized-repre-daf0942d

## Summary

### Background

These are two appeals filed against the order dated 21.01.2022 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, on an application filed under Section 66 of the IBC. The Resolution Professional sought directions to the Respondents to provide for and make good to the Corporate Debtor for losses caused by the Respondent's fraudulent transactions. The Adjudicating Authority allowed the application and issued directions, also directing the Appellant to make a contribution.

## Facts

Mr. Rohit Jasoria and Mr. Rahul Jasoria, representing RJ Brothers & Partner RJ Logistics Service LLP and Y.K. Logistics, Y.K. International respectively, filed appeals against Aargus Global Logistics Pvt. Ltd. The appeals challenged an order dated 21.01.2022 passed by the Adjudicating Authority (NCLT), New Delhi, which was based on an application filed under Section 66 of the IBC. The Resolution Professional sought directions for the Respondents to compensate the Corporate Debtor for losses due to fraudulent transactions. The Adjudicating Authority allowed the application and directed the Appellants to contribute. The Appellants contended that the direction to institute prosecution under Section 69 against them was unwarranted, as they were not officers of the

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## Issues and analysis

### Issue 1: Whether the direction in paragraph 29 of the judgment to institute prosecution under Section 69 …

**Ratio:** Section 69 of the Code provides punishment for transaction defrauding creditors and can

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**Reasoning:** The Appellate Tribunal found that the Respondent Nos. 9 and 10 were not officers of the

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**Interpretation:** Section 69 is interpreted to apply only to officers of the Corporate Debtor or

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**Application:** Since the Appellants were not officers of the Corporate Debtor, the direction

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## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** Rohit Ja…
- **Respondents:** Aargus Global…

## Timeline

- **2022-01-21 — Order by Adjudicating…**: The Adjudicating Authority (NCLT), New Delhi, passed an order based on an application…
- **2022-05-04 — Dismissal of Company…**: Company Appeal (AT) (Ins.) No. 454 of 2022, filed by the Ex-Promoter and Ex-Directors of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 66 — Fraudulent trading or wrongful trading](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-66)

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