The Applicant, Kavitha Surana, Liquidator of M/s. Shri Veerganapathi Steels Private Limited, filed an Execution Application seeking to execute an order passed by the Tribunal on 2019-04-09 in MA/308/2019, directing the Respondent, Devmata Exim Private Limited, to pay Rs. 10,36,91,319/-. The Respondent challenged the order via appeal to NCLAT, which directed the Respondent to keep the amount in an Escrow Account. The Respondent then appealed to the Supreme Court, which dismissed the appeal on 2019-08-02. An appeal to NCLAT was also dismissed on 2019-08-05, thus the order of 2019-04-09 attained finality. The applicant filed the present application as the respondent failed to comply with the order.
Kavitha Surana, the Liquidator of M/s. Shri Veerganapathi Steels Private Limited, initiated an execution application to enforce a previous order from the National Company Law Tribunal (NCLT) dated 2019-04-09. This order, issued in MA/308/2019, directed Devmata Exim Private Limited to pay Rs. 10,36,91,319/- to M/s. Shri Veerganapathi Steels Private Limited. Devmata Exim Private Limited challenged this order by appealing to the National Company Law Appellate Tribunal (NCLAT) and subsequently to the Supreme Court, both of which dismissed the appeals. Despite the finality of the NCLT order, Devmata Exim Private Limited failed to comply. Consequently, Kavitha Surana filed the present application seeking a Garnishee order to prohibit Devmata Exim Private Limited's debtors
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The Tribunal directed…
The Respondent…
The Applicant, Kavitha Surana, Liquidator of M/s. Shri Veerganapathi Steels Private Limited, filed an Execution Application seeking to execute an order passed by the Tribunal on 2019-04-09 in MA/308/2019, directing the Respondent, Devmata Exim Private Limited, to pay Rs. 10,36,91,319/-. The Respondent challenged the order via appeal to NCLAT, which directed the Respondent to keep the amount in an Escrow Account. The Respondent then appealed to the Supreme Court, which dismissed the appeal on 2019-08-02. An appeal to NCLAT was also dismissed on 2019-08-05, thus the order of 2019-04-09 attained finality. The applicant filed the present application as the respondent failed to comply with the order.
Kavitha Surana, the Liquidator of M/s. Shri Veerganapathi Steels Private Limited, initiated an execution application to enforce a previous order from the National Company Law Tribunal (NCLT) dated 2019-04-09. This order, issued in MA/308/2019, directed Devmata Exim Private Limited to pay Rs. 10,36,91,319/- to M/s. Shri Veerganapathi Steels Private Limited. Devmata Exim Private Limited challenged this order by appealing to the National Company Law Appellate Tribunal (NCLAT) and subsequently to the Supreme Court, both of which dismissed the appeals. Despite the finality of the NCLT order, Devmata Exim Private Limited failed to comply. Consequently, Kavitha Surana filed the present application seeking a Garnishee order to prohibit Devmata Exim Private Limited's debtors
…The Tribunal directed…
The Respondent…