The Resolution Professional (RP) filed an application seeking permission to auction and sell a Mercedes BENZ S320 CDIL car. The NCLT notes that such a direction cannot be given without the recommendation of the Committee of Creditors (CoC). The NCLT also notes that in previous orders (CA No. 96(PB)/2018 and 271(PB)/2018), it had directed the RP to surrender possession of the car to HDFC Bank.
The Resolution Professional (RP) filed an application seeking permission to auction and sell a Mercedes BENZ S320 CDIL car with Registration No. HR 70C 5546. The NCLT observed that such a direction cannot be sought by the RP without the recommendation of the CoC. The NCLT had previously directed the RP to surrender the possession of the car to HDFC Bank in orders CA No. 96(PB)/2018 and 271(PB)/2018. The counsel for HDFC Bank stated that the car is hypothecated to ICICI Bank. The car appears to be the only asset of the Corporate Debtor.
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NCLT disposed of CA No. 96(PB)/2018 and…
The NCLT disposed of CA-1075(PB)/2018,…
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The Resolution Professional (RP) filed an application seeking permission to auction and sell a Mercedes BENZ S320 CDIL car. The NCLT notes that such a direction cannot be given without the recommendation of the Committee of Creditors (CoC). The NCLT also notes that in previous orders (CA No. 96(PB)/2018 and 271(PB)/2018), it had directed the RP to surrender possession of the car to HDFC Bank.
The Resolution Professional (RP) filed an application seeking permission to auction and sell a Mercedes BENZ S320 CDIL car with Registration No. HR 70C 5546. The NCLT observed that such a direction cannot be sought by the RP without the recommendation of the CoC. The NCLT had previously directed the RP to surrender the possession of the car to HDFC Bank in orders CA No. 96(PB)/2018 and 271(PB)/2018. The counsel for HDFC Bank stated that the car is hypothecated to ICICI Bank. The car appears to be the only asset of the Corporate Debtor.
NCLT disposed of CA No. 96(PB)/2018 and…
The NCLT disposed of CA-1075(PB)/2018,…
Sign in to view related legal provisions.