The case involves two company appeals (229/2018 and 262/2018) arising from orders passed by the Adjudicating Authority (National Company Law Tribunal), Chennai, in CP/511/IB/2017. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Cethar Limited, with Mr. V. Nagarajan appointed as the Resolution Professional. M/s Dynepro Private Limited (Appellant in Appeal 229/2018) filed CA/65/IB/2018 seeking the release of materials received by the Corporate Debtor and restraint of the Resolution Professional. M/s IU International Holdings PTE Ltd. (Appellant in Appeal 262/2018) filed CA/127/2018 seeking custody of materials supplied to the Corporate Debtor. Both applications were rejected by the Adjudicating Authority.
A Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Cethar Limited, with Mr. V. Nagarajan appointed as the Resolution Professional. M/s Dynepro Private Limited filed an application (CA/65/IB/2018) seeking the release of materials received by the Corporate Debtor, supported by an Inward Inspection Certificate dated 05.05.2017. They claimed the materials belonged to them and were sent to M/s Cethar Ltd. for job work. M/s IU International Holdings PTE Ltd. filed another application (CA/127/2018) seeking custody of materials supplied to the Corporate Debtor, claiming they supplied the material to M/s GB Engineering Enterprises Ltd., who in turn supplied it to M/s Dynepro Pvt. Ltd., who then supplied steel plates to M/s Cethar Ltd. The materials were
…Sign in to view the parties.
M/s IU International Holdings PTE Ltd. made…
‘M/s G. B. Engineering Enterprises Ltd.'…
The case involves two company appeals (229/2018 and 262/2018) arising from orders passed by the Adjudicating Authority (National Company Law Tribunal), Chennai, in CP/511/IB/2017. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Cethar Limited, with Mr. V. Nagarajan appointed as the Resolution Professional. M/s Dynepro Private Limited (Appellant in Appeal 229/2018) filed CA/65/IB/2018 seeking the release of materials received by the Corporate Debtor and restraint of the Resolution Professional. M/s IU International Holdings PTE Ltd. (Appellant in Appeal 262/2018) filed CA/127/2018 seeking custody of materials supplied to the Corporate Debtor. Both applications were rejected by the Adjudicating Authority.
A Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Cethar Limited, with Mr. V. Nagarajan appointed as the Resolution Professional. M/s Dynepro Private Limited filed an application (CA/65/IB/2018) seeking the release of materials received by the Corporate Debtor, supported by an Inward Inspection Certificate dated 05.05.2017. They claimed the materials belonged to them and were sent to M/s Cethar Ltd. for job work. M/s IU International Holdings PTE Ltd. filed another application (CA/127/2018) seeking custody of materials supplied to the Corporate Debtor, claiming they supplied the material to M/s GB Engineering Enterprises Ltd., who in turn supplied it to M/s Dynepro Pvt. Ltd., who then supplied steel plates to M/s Cethar Ltd. The materials were
…M/s IU International Holdings PTE Ltd. made…
‘M/s G. B. Engineering Enterprises Ltd.'…