The case involves two applications, IA Nos. 464/2020 and 855/2020, filed by the suspended director of Priknit Retails Limited against the liquidator, Sanjay Kumar Aggarwal. The applications allege that the liquidator failed to disclose that his wife was an employee of the State Bank of India (SBI), the financial creditor, creating a conflict of interest. The applicant also alleges that the liquidator was proceeded against by SBI as a willful defaulter and that the CBI lodged an FIR against him. The applications seek action against the liquidator for making false statements and misleading statements, and directions for him to refund all fees/expenses to the creditors received by him through the present liquidation.
Priknit Retails Limited is undergoing liquidation. Mr. Vijay Kumar Ghai, the suspended director of Priknit Retails Limited, filed IA Nos. 464/2020 and 855/2020 against Sanjay Kumar Aggarwal, the liquidator. Ghai alleged that Aggarwal failed to disclose that his wife was an employee of the State Bank of India (SBI), the financial creditor of Priknit Retails, creating a conflict of interest. Ghai also alleged that SBI had initiated proceedings against Aggarwal as a willful defaulter and that the CBI had lodged an FIR against him. Aggarwal denied these allegations, stating that his wife's position at SBI did not influence the CIRP and that SBI had exonerated him. He also claimed that the FIR lodged by the CBI was against another individual with a similar name. SBI
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State Bank of India…
SBI lodged a separate…
The case involves two applications, IA Nos. 464/2020 and 855/2020, filed by the suspended director of Priknit Retails Limited against the liquidator, Sanjay Kumar Aggarwal. The applications allege that the liquidator failed to disclose that his wife was an employee of the State Bank of India (SBI), the financial creditor, creating a conflict of interest. The applicant also alleges that the liquidator was proceeded against by SBI as a willful defaulter and that the CBI lodged an FIR against him. The applications seek action against the liquidator for making false statements and misleading statements, and directions for him to refund all fees/expenses to the creditors received by him through the present liquidation.
Priknit Retails Limited is undergoing liquidation. Mr. Vijay Kumar Ghai, the suspended director of Priknit Retails Limited, filed IA Nos. 464/2020 and 855/2020 against Sanjay Kumar Aggarwal, the liquidator. Ghai alleged that Aggarwal failed to disclose that his wife was an employee of the State Bank of India (SBI), the financial creditor of Priknit Retails, creating a conflict of interest. Ghai also alleged that SBI had initiated proceedings against Aggarwal as a willful defaulter and that the CBI had lodged an FIR against him. Aggarwal denied these allegations, stating that his wife's position at SBI did not influence the CIRP and that SBI had exonerated him. He also claimed that the FIR lodged by the CBI was against another individual with a similar name. SBI
…State Bank of India…
SBI lodged a separate…