# In the matter of Moka Technology Servides Limited MA-24-IB-2018 In TCP-81-(IB)-2017

> NCLT judgment dated 2018-07-04. Citation: TCN-2018-NCLT-01197. The case involves an application (MA/24/IB/2018) in relation to a petition (TCP/81/(IB)/2017)…

- **Court:** NCLT
- **Order date:** 4 Jul 2018
- **Citation:** TCN-2018-NCLT-01197
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/moka-technology-servides-limited-ma-24-ib-2018-in-tcp-81-ib-2017-163549ac

## Summary

### Background

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.

## Facts

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.

## Issues and analysis

### Issue 1: Whether Tmt. Kumuda Aravamudha Iyengar's presence is necessary to prevent the ends of justice from …

**Ratio:** The court has the power to ensure the presence of parties to prevent injustice,

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**Reasoning:** The court reasoned that the transfer of funds during the moratorium period raises

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**Interpretation:** The court interprets its powers under Section 424 of the Companies Act, 2013,

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**Application:** Given the transfer of funds and Tmt. Kumuda Aravamudha Iyengar's failure to

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## Parties

- **Judges:** CH. MOHD SHARIEF…
- **Appellants:** JOINT COMMISSIONER…
- **Respondents:** MOKA TECHNOLOGY…; Kavitha S…

## Timeline

- **2018-07-04 — Hearing…**: Hearing held at 10:30…
- **2018-06-14 — Order Da…**: Registry directed to issue notice to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 94 — Application by debtor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-94)

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