This case involves an appeal against an order dated 01.02.2020 passed by the Adjudicating Authority (National Company Law Tribunal), Special Bench, Chennai in MA/987/2019 in IBA/330/2019. The appeal, Company Appeal (AT) (Insolvency) No. 765 of 2020, was filed by P R Venkatesh, the erstwhile promoter and Managing Director of Perfect International Fabricators Private Limited, against the order which allowed MA/987/2019. The Resolution Professional had filed MA/987/2019 before the NCLT alleging that Perfect International Fabricators Pvt. Ltd. and Ingenium Advisory LLP are related parties and the transfer of payments by Perfect International Fabricators Pvt. Ltd. to Ingenium Advisory LLP within the look-back period were preferential and fraudulent.
Perfect International Fabricators Private Limited (the Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) following an application under Section 9 of the IBC by an Operational Creditor, M/s Jotun India Pvt. Ltd. The NCLT admitted the application on 29.04.2019. The Resolution Professional (Respondent No. 1) filed MA/987/2019 alleging that Perfect International Fabricators and Ingenium Advisory LLP were related parties and that payments made by Perfect International Fabricators to Ingenium Advisory LLP within the look-back period were preferential and fraudulent. The Adjudicating Authority allowed MA/987/2019 on 01.02.2020. P R Venkatesh, the erstwhile promoter and Managing Director of Perfect International Fabricators, filed an appeal
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Perfect International Fabricators Pvt. Ltd.…
Perfect International Fabricators Pvt. Ltd.…
This case involves an appeal against an order dated 01.02.2020 passed by the Adjudicating Authority (National Company Law Tribunal), Special Bench, Chennai in MA/987/2019 in IBA/330/2019. The appeal, Company Appeal (AT) (Insolvency) No. 765 of 2020, was filed by P R Venkatesh, the erstwhile promoter and Managing Director of Perfect International Fabricators Private Limited, against the order which allowed MA/987/2019. The Resolution Professional had filed MA/987/2019 before the NCLT alleging that Perfect International Fabricators Pvt. Ltd. and Ingenium Advisory LLP are related parties and the transfer of payments by Perfect International Fabricators Pvt. Ltd. to Ingenium Advisory LLP within the look-back period were preferential and fraudulent.
Perfect International Fabricators Private Limited (the Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) following an application under Section 9 of the IBC by an Operational Creditor, M/s Jotun India Pvt. Ltd. The NCLT admitted the application on 29.04.2019. The Resolution Professional (Respondent No. 1) filed MA/987/2019 alleging that Perfect International Fabricators and Ingenium Advisory LLP were related parties and that payments made by Perfect International Fabricators to Ingenium Advisory LLP within the look-back period were preferential and fraudulent. The Adjudicating Authority allowed MA/987/2019 on 01.02.2020. P R Venkatesh, the erstwhile promoter and Managing Director of Perfect International Fabricators, filed an appeal
…Perfect International Fabricators Pvt. Ltd.…
Perfect International Fabricators Pvt. Ltd.…