The case involves four appeals filed by the Appellant, T.S. Murali, against orders passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench) in relation to the Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation of Helpline Hospitality Pvt. Ltd. The appeals challenge orders related to the e-auction of a property, the Appellant's locus standi to settle dues of statutory creditors, and the vacation of interim stays on the e-auction. The Appellant, an ex-director and promoter of the Corporate Debtor, is contesting the liquidation process, claiming he is willing to settle the dues of all statutory creditors. The liquidator, however, alleges diversion of funds by the Appellant from the Corporate Debtor and insists on the
…T.S. Murali, the Appellant, is the ex-Director and promoter of Helpline Hospitality Pvt. Ltd., the Corporate Debtor. The Corporate Debtor was admitted into CIRP on 2017-04-24 following a Section 9 application by R.M. House Keeping Ltd. The Resolution Professional rejected the claims of the Operational Creditor. The Adjudicating Authority allowed initiation of liquidation proceedings on 2017-10-11. An interim Forensic Audit Report was brought on record on 2018-11-10, followed by a Final Forensic Audit report on 2019-01-02. The Corporate Debtor had taken a loan of Rs.36,59,250/- from ICICI on 2004-04-30 for 104 months, ending on 2013-07-22, to acquire a property at Plot No. C-158, Sector 41, Noida. The property was bought through a joint loan taken by the Appellant and
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Corporate Debtor admitted into CIRP following…
Adjudicating Authority…
The case involves four appeals filed by the Appellant, T.S. Murali, against orders passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench) in relation to the Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation of Helpline Hospitality Pvt. Ltd. The appeals challenge orders related to the e-auction of a property, the Appellant's locus standi to settle dues of statutory creditors, and the vacation of interim stays on the e-auction. The Appellant, an ex-director and promoter of the Corporate Debtor, is contesting the liquidation process, claiming he is willing to settle the dues of all statutory creditors. The liquidator, however, alleges diversion of funds by the Appellant from the Corporate Debtor and insists on the
…T.S. Murali, the Appellant, is the ex-Director and promoter of Helpline Hospitality Pvt. Ltd., the Corporate Debtor. The Corporate Debtor was admitted into CIRP on 2017-04-24 following a Section 9 application by R.M. House Keeping Ltd. The Resolution Professional rejected the claims of the Operational Creditor. The Adjudicating Authority allowed initiation of liquidation proceedings on 2017-10-11. An interim Forensic Audit Report was brought on record on 2018-11-10, followed by a Final Forensic Audit report on 2019-01-02. The Corporate Debtor had taken a loan of Rs.36,59,250/- from ICICI on 2004-04-30 for 104 months, ending on 2013-07-22, to acquire a property at Plot No. C-158, Sector 41, Noida. The property was bought through a joint loan taken by the Appellant and
…Corporate Debtor admitted into CIRP following…
Adjudicating Authority…