# 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-01204. The case involves an application (MA/24/IB/2018) in relation to a corporate insolvency…

- **Court:** NCLT
- **Order date:** 4 Jul 2018
- **Citation:** TCN-2018-NCLT-01204
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/moka-technology-servides-limited-ma-24-ib-2018-in-tcp-81-ib-2017-64d2d42b

## Summary

### Background

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.

## Facts

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.

## 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 issue warrants to ensure the presence of individuals whose

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**Reasoning:** The court reasoned that Tmt. Kumuda Aravamudha Iyengar's absence despite being served

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

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**Application:** The court applied this principle to the specific facts by issuing a bailable

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## Parties

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

## Timeline

- **2017-01-01 — TCP/81/(IB…**: Filing of TCP/81/(IB)/20…
- **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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