The case involves an application regarding suspicious transactions highlighted by the Resolution Professional. The learned counsel referenced Paragraph No. XVIII of the application, pointing to an entry of damage caused by the mortality of birds in the poultry farm amounting to ₹6,42,35,200/-, recorded as an extraordinary item in the books of accounts during the financial year 2016-17. The Resolution Professional was obligated to bring this transaction to the Tribunal's attention under Section 66 of the Insolvency and Bankruptcy Code, 2016.
State Bank of India, as the financial creditor, initiated insolvency proceedings against MOR Farms Pvt. Ltd. The Resolution Professional, Anil Kohli, submitted an application highlighting certain suspicious transactions, particularly an entry of ₹6,42,35,200/- related to the mortality of birds in the poultry farm, recorded in the financial year 2016-17. The Resolution Professional believed this transaction should be brought to the Tribunal's notice under Section 66 of the Insolvency and Bankruptcy Code, 2016. The Resolution Plan had already been approved and implemented by the Tribunal. The relevance of the facts lies in the Resolution Professional's duty to report suspicious transactions and the Tribunal's assessment of whether those transactions warranted further
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Entry of damage caused by mortality of…
Order delivered by the…
The case involves an application regarding suspicious transactions highlighted by the Resolution Professional. The learned counsel referenced Paragraph No. XVIII of the application, pointing to an entry of damage caused by the mortality of birds in the poultry farm amounting to ₹6,42,35,200/-, recorded as an extraordinary item in the books of accounts during the financial year 2016-17. The Resolution Professional was obligated to bring this transaction to the Tribunal's attention under Section 66 of the Insolvency and Bankruptcy Code, 2016.
State Bank of India, as the financial creditor, initiated insolvency proceedings against MOR Farms Pvt. Ltd. The Resolution Professional, Anil Kohli, submitted an application highlighting certain suspicious transactions, particularly an entry of ₹6,42,35,200/- related to the mortality of birds in the poultry farm, recorded in the financial year 2016-17. The Resolution Professional believed this transaction should be brought to the Tribunal's notice under Section 66 of the Insolvency and Bankruptcy Code, 2016. The Resolution Plan had already been approved and implemented by the Tribunal. The relevance of the facts lies in the Resolution Professional's duty to report suspicious transactions and the Tribunal's assessment of whether those transactions warranted further
…Entry of damage caused by mortality of…
Order delivered by the…