The case involves an application (MA/24/IB/2018) in relation to a petition (TCP/81/(IB)/2017) before the National Company Law Tribunal (NCLT), Chennai. The Registry was directed to issue a notice to Tmt. Kumuda Aravamudha Iyengar, which was received. The applicant also issued a private notice. Despite service of notices, Tmt. Kumuda Aravamudha Iyengar did not make any representation. An amount of Rs.70 lakhs and Rs.2,30,000/- was transferred during the moratorium to her personal account from the Corporate Debtor's account with Punjab National Bank, Adyar Branch, Chennai.
The Joint Commissioner Commercial Tax Department filed a petition. The Registry was directed to issue notice to Tmt. Kumuda Aravamudha Iyengar, and the notice was served. Despite this, she did not appear or make any representation. During the moratorium period, Rs.70 lakhs and Rs.2,30,000/- were transferred from the Corporate Debtor's account with Punjab National Bank, Adyar Branch, Chennai, to Tmt. Kumuda Aravamudha Iyengar's personal account. The court deemed her presence necessary to prevent injustice and recover the funds.
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Hearing held a…
Registry directed to…
The case involves an application (MA/24/IB/2018) in relation to a petition (TCP/81/(IB)/2017) before the National Company Law Tribunal (NCLT), Chennai. The Registry was directed to issue a notice to Tmt. Kumuda Aravamudha Iyengar, which was received. The applicant also issued a private notice. Despite service of notices, Tmt. Kumuda Aravamudha Iyengar did not make any representation. An amount of Rs.70 lakhs and Rs.2,30,000/- was transferred during the moratorium to her personal account from the Corporate Debtor's account with Punjab National Bank, Adyar Branch, Chennai.
The Joint Commissioner Commercial Tax Department filed a petition. The Registry was directed to issue notice to Tmt. Kumuda Aravamudha Iyengar, and the notice was served. Despite this, she did not appear or make any representation. During the moratorium period, Rs.70 lakhs and Rs.2,30,000/- were transferred from the Corporate Debtor's account with Punjab National Bank, Adyar Branch, Chennai, to Tmt. Kumuda Aravamudha Iyengar's personal account. The court deemed her presence necessary to prevent injustice and recover the funds.
Hearing held a…
Registry directed to…