This case involves an appeal against two orders passed by the Adjudicating Authority (NCLT) Kolkata Bench in CP (IB) No. 616/KB/2017. The first order, dated May 16, 2019, initiated liquidation proceedings. The second order, dated May 17, 2019, changed the appointed liquidator. The Appellants, claiming to be in possession of a flat that is the primary asset of the Corporate Debtor, filed three applications before the Adjudicating Authority: one for impleadment, another to be considered as Resolution Applicants, and a third claiming the CIRP was vitiated by fraud.
Rajesh Kumar Agarwal, Kavita Agarwal, and Chayank Agarwal (Appellants) filed an appeal against liquidation orders passed by the NCLT Kolkata Bench against RLA Holdings Pvt. Ltd. (Corporate Debtor). The Appellants claimed possession of Flat No. 3E, 3 Lower Rowdon Street, Kolkata, asserting it belonged to their father, Mr. Ramjilal Agarwal, and was subject to an oral family arrangement. The Appellants filed three applications before the Adjudicating Authority: impleadment, consideration as Resolution Applicants, and a claim of fraud vitiating the CIRP. The application under Section 7 of IBC was filed by Srivani Merchants Pvt. Ltd. (Financial Creditor). The Appellants alleged collusion between the Financial Creditor and the Directors of the Corporate Debtor, noting that
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This case involves an appeal against two orders passed by the Adjudicating Authority (NCLT) Kolkata Bench in CP (IB) No. 616/KB/2017. The first order, dated May 16, 2019, initiated liquidation proceedings. The second order, dated May 17, 2019, changed the appointed liquidator. The Appellants, claiming to be in possession of a flat that is the primary asset of the Corporate Debtor, filed three applications before the Adjudicating Authority: one for impleadment, another to be considered as Resolution Applicants, and a third claiming the CIRP was vitiated by fraud.
Rajesh Kumar Agarwal, Kavita Agarwal, and Chayank Agarwal (Appellants) filed an appeal against liquidation orders passed by the NCLT Kolkata Bench against RLA Holdings Pvt. Ltd. (Corporate Debtor). The Appellants claimed possession of Flat No. 3E, 3 Lower Rowdon Street, Kolkata, asserting it belonged to their father, Mr. Ramjilal Agarwal, and was subject to an oral family arrangement. The Appellants filed three applications before the Adjudicating Authority: impleadment, consideration as Resolution Applicants, and a claim of fraud vitiating the CIRP. The application under Section 7 of IBC was filed by Srivani Merchants Pvt. Ltd. (Financial Creditor). The Appellants alleged collusion between the Financial Creditor and the Directors of the Corporate Debtor, noting that
…The Corporate Insolvency Resolution Process…
The Adjudicating…
Sign in to view related legal provisions.