The case involves a matter before the National Company Law Tribunal (NCLT), Mumbai Bench, concerning CP(IB) 1882(MB)/2018 and MAs 876/2019, 1082/2019, and 1241/2019. The NCLT had previously imposed costs of Rs. 10 lakhs each on Mr. Gaurav Dave, Ms. Ami Dave, and Mr. Vishal Dave under Section 70 of the Insolvency and Bankruptcy Code (I&B Code), 2016, for which proof of deposit was not received. The order was challenged before the NCLAT, which dismissed the appeal and imposed further costs of Rs. 5,00,000 on each of the Appellants. The NCLAT order specified a 30-day period for depositing the amount from April 22, 2019.
The National Company Law Tribunal (NCLT), Mumbai Bench, is hearing a case related to CP(IB) 1882(MB)/2018 and MAs 876/2019, 1082/2019, and 1241/2019. On March 28, 2019, the NCLT imposed costs of Rs. 10 lakhs each on Mr. Gaurav Dave, Ms. Ami Dave, and Mr. Vishal Dave under Section 70 of the Insolvency and Bankruptcy Code (I&B Code), 2016. As of the current hearing, no proof of deposit of the said amount has been received. The order imposing the costs was challenged before the National Company Law Appellate Tribunal (NCLAT), which dismissed the appeal on April 22, 2019, and further imposed costs of Rs. 5,00,000 on each of the Appellants. The NCLAT order provided 30 days from April 22, 2019, for depositing the additional amount. The NCLT notes that the initial penalty
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NCLT imposed costs of Rs. 10 lakhs each on Mr.…
NCLAT dismissed the appeal and imposed…
The case involves a matter before the National Company Law Tribunal (NCLT), Mumbai Bench, concerning CP(IB) 1882(MB)/2018 and MAs 876/2019, 1082/2019, and 1241/2019. The NCLT had previously imposed costs of Rs. 10 lakhs each on Mr. Gaurav Dave, Ms. Ami Dave, and Mr. Vishal Dave under Section 70 of the Insolvency and Bankruptcy Code (I&B Code), 2016, for which proof of deposit was not received. The order was challenged before the NCLAT, which dismissed the appeal and imposed further costs of Rs. 5,00,000 on each of the Appellants. The NCLAT order specified a 30-day period for depositing the amount from April 22, 2019.
The National Company Law Tribunal (NCLT), Mumbai Bench, is hearing a case related to CP(IB) 1882(MB)/2018 and MAs 876/2019, 1082/2019, and 1241/2019. On March 28, 2019, the NCLT imposed costs of Rs. 10 lakhs each on Mr. Gaurav Dave, Ms. Ami Dave, and Mr. Vishal Dave under Section 70 of the Insolvency and Bankruptcy Code (I&B Code), 2016. As of the current hearing, no proof of deposit of the said amount has been received. The order imposing the costs was challenged before the National Company Law Appellate Tribunal (NCLAT), which dismissed the appeal on April 22, 2019, and further imposed costs of Rs. 5,00,000 on each of the Appellants. The NCLAT order provided 30 days from April 22, 2019, for depositing the additional amount. The NCLT notes that the initial penalty
…NCLT imposed costs of Rs. 10 lakhs each on Mr.…
NCLAT dismissed the appeal and imposed…