The case involves an application (MA/24/IB/2018) in relation to a corporate insolvency resolution process (CIRP) under TCP/81/(IB)/2017. The Registry was directed to issue a notice to Tmt. Kumuda Aravamudha Iyengar, which was served. Despite the service of notices, she 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 of Commercial Tax Department filed an application (MA/24/IB/2018) under TCP/81/(IB)/2017. Notice was issued to Tmt. Kumuda Aravamudha Iyengar, who did not appear. During the moratorium period, Rs.70 lakhs and Rs.2,30,000/- were transferred to her personal account from the Corporate Debtor's account at Punjab National Bank, Adyar Branch, Chennai. The court deemed her absence as deliberate disobedience. The funds transferred are considered money of the Corporate Debtor taken away during the CIRP.
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Filing of TCP/81/(IB)/20…
Registry directed to…
The case involves an application (MA/24/IB/2018) in relation to a corporate insolvency resolution process (CIRP) under TCP/81/(IB)/2017. The Registry was directed to issue a notice to Tmt. Kumuda Aravamudha Iyengar, which was served. Despite the service of notices, she 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 of Commercial Tax Department filed an application (MA/24/IB/2018) under TCP/81/(IB)/2017. Notice was issued to Tmt. Kumuda Aravamudha Iyengar, who did not appear. During the moratorium period, Rs.70 lakhs and Rs.2,30,000/- were transferred to her personal account from the Corporate Debtor's account at Punjab National Bank, Adyar Branch, Chennai. The court deemed her absence as deliberate disobedience. The funds transferred are considered money of the Corporate Debtor taken away during the CIRP.
Filing of TCP/81/(IB)/20…
Registry directed to…