This case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), New Delhi, regarding the attachment and proposed auction of a property. The appellants, Mr. T.S. Murali and Mrs. Rema Murali, are ex-directors of the Corporate Debtor, Helpline Hospitality Pvt Ltd. The liquidator filed an application seeking the transfer of a property registered in the name of Mr. Murali to the Corporate Debtor, alleging fraudulent diversion of funds. The NCLT allowed the application, leading to the attachment of the property. The appellants then filed a review petition, which was dismissed. They then filed an appeal before the NCLAT.
Mr. T.S. Murali and Mrs. Rema Murali, ex-directors of Helpline Hospitality Pvt Ltd, are appellants in this case. An application under Section 9 of the IBC was filed on 2017-03-21 for initiation of CIRP against Helpline Hospitality Pvt Ltd, which was admitted on 2017-04-24. An Insolvency Resolution Professional was appointed on 2017-07-18. Liquidation proceedings were initiated under Section 33 of the IBC. A forensic audit revealed that the company and its directors were liable for prosecution under the IPC, Companies Act, 2013, and other laws for fraudulent diversion of funds. A loan of Rs.36,59,250 was taken on 2004-04-30 for a tenure of 104 months, ending on 2013-07-22, for assets located at Plot No.G-158, Sector 41, Noida. The asset was registered in the name of
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An application under Section 9 of the IBC was…
The applicati…
This case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), New Delhi, regarding the attachment and proposed auction of a property. The appellants, Mr. T.S. Murali and Mrs. Rema Murali, are ex-directors of the Corporate Debtor, Helpline Hospitality Pvt Ltd. The liquidator filed an application seeking the transfer of a property registered in the name of Mr. Murali to the Corporate Debtor, alleging fraudulent diversion of funds. The NCLT allowed the application, leading to the attachment of the property. The appellants then filed a review petition, which was dismissed. They then filed an appeal before the NCLAT.
Mr. T.S. Murali and Mrs. Rema Murali, ex-directors of Helpline Hospitality Pvt Ltd, are appellants in this case. An application under Section 9 of the IBC was filed on 2017-03-21 for initiation of CIRP against Helpline Hospitality Pvt Ltd, which was admitted on 2017-04-24. An Insolvency Resolution Professional was appointed on 2017-07-18. Liquidation proceedings were initiated under Section 33 of the IBC. A forensic audit revealed that the company and its directors were liable for prosecution under the IPC, Companies Act, 2013, and other laws for fraudulent diversion of funds. A loan of Rs.36,59,250 was taken on 2004-04-30 for a tenure of 104 months, ending on 2013-07-22, for assets located at Plot No.G-158, Sector 41, Noida. The asset was registered in the name of
…An application under Section 9 of the IBC was…
The applicati…