The case involves an appeal against an order dated 2018-07-31 passed by the Designated Registrar of NCLT, Allahabad Bench, which rejected the registration of a petition as not maintainable under Section 47 and 49 read with Section 60 (5), 68, 71, and 73 of the Insolvency & Bankruptcy Code, 2016. The rejection was based on the absence of ongoing CIRP proceedings or an admitted Insolvency Petition against M/s. Juggilal Kamlapat Jute Mills Company Limited. The appellant seeks to enforce legal proceedings and continue investigations into alleged illegal sale/transfer of assets and balance sheet manipulation, as directed by the Supreme Court. The appellant contends that the SIC Repeal Act, 2003, only abated proceedings before BIFR and AAIFR, but investigations can
…Ghanshyam Sarda, the appellant, filed an appeal against an order passed by the Designated Registrar of the NCLT, Allahabad Bench. The Registrar rejected the registration of the petition filed by Ghanshyam Sarda. The rejection was based on the ground that the petition was not maintainable under Section 47 and 49 read with Section 60 (5), 68, 71, and 73 of the Insolvency & Bankruptcy Code, 2016. The Registrar reasoned that no CIRP proceedings were underway and no Insolvency Petition had been admitted against M/s. Juggilal Kamlapat Jute Mills Company Limited. The appellant sought to conclude an investigation into the correctness of the Audited Balance Sheet as of 2012-12-31, as per Supreme Court directions from 2014-11-13, and proceed with the resolution plan. The
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Supreme Court passed directions regarding the…
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The case involves an appeal against an order dated 2018-07-31 passed by the Designated Registrar of NCLT, Allahabad Bench, which rejected the registration of a petition as not maintainable under Section 47 and 49 read with Section 60 (5), 68, 71, and 73 of the Insolvency & Bankruptcy Code, 2016. The rejection was based on the absence of ongoing CIRP proceedings or an admitted Insolvency Petition against M/s. Juggilal Kamlapat Jute Mills Company Limited. The appellant seeks to enforce legal proceedings and continue investigations into alleged illegal sale/transfer of assets and balance sheet manipulation, as directed by the Supreme Court. The appellant contends that the SIC Repeal Act, 2003, only abated proceedings before BIFR and AAIFR, but investigations can
…Ghanshyam Sarda, the appellant, filed an appeal against an order passed by the Designated Registrar of the NCLT, Allahabad Bench. The Registrar rejected the registration of the petition filed by Ghanshyam Sarda. The rejection was based on the ground that the petition was not maintainable under Section 47 and 49 read with Section 60 (5), 68, 71, and 73 of the Insolvency & Bankruptcy Code, 2016. The Registrar reasoned that no CIRP proceedings were underway and no Insolvency Petition had been admitted against M/s. Juggilal Kamlapat Jute Mills Company Limited. The appellant sought to conclude an investigation into the correctness of the Audited Balance Sheet as of 2012-12-31, as per Supreme Court directions from 2014-11-13, and proceed with the resolution plan. The
…Supreme Court passed directions regarding the…
Supreme Court…