The case involves M/s Modern Credit Pvt Ltd as the applicant and M/s KPG International Pvt Ltd as the respondent. The applicant filed an application under Section 7 of the IBC. Several IAs were filed, including IA/1153/2021, IA/2715/2020, IA 687/2021, and IA/565/2021. IA/2715/2020 sought various reliefs, including directing respondents to cooperate with the IRP, preventing suspended directors from leaving the country, and preventing the transfer of certain vehicles. IA/565/2021 sought directions to the Sub-Registrar to register a property in favor of the Corporate Debtor.
M/s Modern Credit Pvt Ltd initiated proceedings against M/s KPG International Pvt Ltd under Section 7 of the IBC. Several Interlocutory Applications (IAs) were filed. IA/2715/2020 sought directions for the respondents/suspended directors to cooperate with the IRP, prevent them from leaving the country, and prevent the transfer of certain vehicles (BMW and Mercedes). The applicant's counsel stated that the vehicles had already been handed over and the respondents had left the country. IA/565/2021 was filed by the Resolution Professional (RP) seeking directions to the Sub-Registrar to register a property in favor of the Corporate Debtor, KPG International Pvt. Ltd., based on an agreement dated 16.12.2016. The property was shown as an asset of the Corporate Debtor in the
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Hon'ble NCLAT vide order dated 08.09.2021 in…
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The case involves M/s Modern Credit Pvt Ltd as the applicant and M/s KPG International Pvt Ltd as the respondent. The applicant filed an application under Section 7 of the IBC. Several IAs were filed, including IA/1153/2021, IA/2715/2020, IA 687/2021, and IA/565/2021. IA/2715/2020 sought various reliefs, including directing respondents to cooperate with the IRP, preventing suspended directors from leaving the country, and preventing the transfer of certain vehicles. IA/565/2021 sought directions to the Sub-Registrar to register a property in favor of the Corporate Debtor.
M/s Modern Credit Pvt Ltd initiated proceedings against M/s KPG International Pvt Ltd under Section 7 of the IBC. Several Interlocutory Applications (IAs) were filed. IA/2715/2020 sought directions for the respondents/suspended directors to cooperate with the IRP, prevent them from leaving the country, and prevent the transfer of certain vehicles (BMW and Mercedes). The applicant's counsel stated that the vehicles had already been handed over and the respondents had left the country. IA/565/2021 was filed by the Resolution Professional (RP) seeking directions to the Sub-Registrar to register a property in favor of the Corporate Debtor, KPG International Pvt. Ltd., based on an agreement dated 16.12.2016. The property was shown as an asset of the Corporate Debtor in the
…Hon'ble NCLAT vide order dated 08.09.2021 in…
Order delive…
Sign in to view related legal provisions.