# In the matter of Sathya Moorthy Sai Prasad, Suspended Director Of Ozone Projects Pvt. Ltd Vs Shapoorji Pallonji And Company Pvt. Ltd

> NCLAT judgment dated 2023-05-10. Citation: TCN-2023-NCLAT-00542. The case is a Company Appeal (AT) (CH) (Ins) No. 134/2023, filed under Section 61 of the…

- **Court:** NCLAT
- **Order date:** 10 May 2023
- **Citation:** TCN-2023-NCLAT-00542
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sathya-moorthy-sai-prasad-suspended-director-of-ozone-projects-pvt-ltd-vs-shapoo-9e6f482d

## Summary

### Background

The case is a Company Appeal (AT) (CH) (Ins) No. 134/2023, filed under Section 61 of the Insolvency and Bankruptcy Code, 2016. It arises out of an impugned order dated 01/05/2023 passed by the Adjudicating Authority (National Company Law Tribunal, Division Bench – I, Chennai) in C.P.(IB)5/CHE/2023. The appellant is Sathya Moorthy Sai Prasad, the Suspended Director of Ozone Projects Pvt. Ltd., and the respondents are Shapoorji Pallonji and Company Pvt. Ltd. & Anr. The appellant's counsel has relied upon an order of the Tribunal passed in 'Permali Wallace Pvt. Ltd.' Vs. 'Narbada Forest Industries Pvt. Ltd.', in Comp. App. (AT) (Ins.) No. 36/2023.

## Facts

Sathya Moorthy Sai Prasad, the Suspended Director of Ozone Projects Pvt. Ltd., filed a Company Appeal against Shapoorji Pallonji and Company Pvt. Ltd. & Anr. The appeal arises from an impugned order dated 01/05/2023 passed by the National Company Law Tribunal, Division Bench – I, Chennai. The appellant's counsel referred to a previous order in 'Permali Wallace Pvt. Ltd.' Vs. 'Narbada Forest Industries Pvt. Ltd.' The court issued a notice to the respondents, which was accepted by their counsel. The respondents requested time to file a reply, and the appellant was given the opportunity to file a rejoinder. Further proceedings were stayed until the next hearing on July 4, 2023.

## Issues and analysis

### Issue 1: Whether the impugned order dated 01/05/2023 passed by the Adjudicating Authority is legally sound …

**Ratio:** The legal soundness and sustainability of an order passed by an adjudicating authority

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**Reasoning:** The court has not yet made a determination on the soundness of the impugned order. The

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**Interpretation:** The interpretation of the relevant laws and regulations, including the

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**Application:** The ratio will be applied to the specific facts and circumstances of the case

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## Parties

- **Judges:** Rakesh Kuma…; Shreesha…
- **Appellants:** Sathya Moorthy…
- **Respondents:** Ozone Projects…; Shapoorji…

## Timeline

- **2023-01-01 — Insolvency and…**: Reference to Section 61 of the Insolvency and Bankruptcy Code, 2016, under which the…
- **2023-05-01 — Impugned Ord…**: Date of the impugned order passed by the Adjudicating Authority (National Company Law…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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