The appeal was filed by a Successful Resolution Applicant (SRA) challenging an order passed by the National Company Law Tribunal (NCLT), New Delhi Bench, regarding the approval of a Resolution Plan. The SRA specifically challenged the findings and directions in paragraphs 60 and 61 of the impugned order, which directed the SRA to seek remedies under the Prevention of Money Laundering Act (PMLA) for the release of attached properties.
Vantage Point Asset Management Pte. Ltd., the Appellant, is a Successful Resolution Applicant (SRA).
The Corporate Debtor (CD) is Alchemist Infra Realty Limited, a public limited company incorporated on 02.04.2008, involved in real estate development.
The Securities and Exchange Board of India (SEBI) filed a complaint against the CD before the ED on 16.03.2016.
The ED recorded an ECIR against the CD on 28.09.2016 for offences punishable under Section 24 of the Securities and Exchange Board of India Act, 1992.
The ED passed a provisional attachment order under Section 5 of the PMLA on 24.01.2019.
M/s Technology Parks Limited filed a Section 7 application against the CD, leading to the initiation of CIRP on 23.03.2022.
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Order passed by the Adjudicating Authority…
The Appeal was…
The appeal was filed by a Successful Resolution Applicant (SRA) challenging an order passed by the National Company Law Tribunal (NCLT), New Delhi Bench, regarding the approval of a Resolution Plan. The SRA specifically challenged the findings and directions in paragraphs 60 and 61 of the impugned order, which directed the SRA to seek remedies under the Prevention of Money Laundering Act (PMLA) for the release of attached properties.
Vantage Point Asset Management Pte. Ltd., the Appellant, is a Successful Resolution Applicant (SRA).
The Corporate Debtor (CD) is Alchemist Infra Realty Limited, a public limited company incorporated on 02.04.2008, involved in real estate development.
The Securities and Exchange Board of India (SEBI) filed a complaint against the CD before the ED on 16.03.2016.
The ED recorded an ECIR against the CD on 28.09.2016 for offences punishable under Section 24 of the Securities and Exchange Board of India Act, 1992.
The ED passed a provisional attachment order under Section 5 of the PMLA on 24.01.2019.
M/s Technology Parks Limited filed a Section 7 application against the CD, leading to the initiation of CIRP on 23.03.2022.
…Order passed by the Adjudicating Authority…
The Appeal was…