The case involves an appeal against a High Court judgment that refused to quash an FIR registered against the appellants, who are officers of a company. The appellants argue that the FIR is a tactic to recover money allegedly owed under a contract, for which arbitration proceedings were initiated but stayed due to insolvency proceedings under the Insolvency and Bankruptcy Code, 2016. A moratorium was ordered by the National Company Law Tribunal, Kolkata Bench. The crux of the allegations is that the first accused-company obtained a contract from the NBCCL, sublet a portion of the work to the second respondent, which faced issues, leading to stalled work and unpaid dues. The complainant alleged suppression of facts regarding a restrictive covenant against subletting
…Aaditya Khaitan and others (appellants) are facing an FIR, which they claim is a tactic to recover money under a contract. Arbitration proceedings were initiated but stayed due to insolvency proceedings under the Insolvency and Bankruptcy Code, 2016, with a moratorium ordered by the NCLT. The first accused-company obtained a contract from NBCCL and sublet work to the second respondent, leading to issues and unpaid dues. The complainant alleged suppression of facts regarding a restrictive covenant against subletting without NBCCL's consent. The High Court refused to quash the FIR against the appellants, but quashed the FIR against the DGM of NBCCL. The contract between the first accused and the complainant was resumed on the directions of the High Court, even after the
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Moratorium ordered by the National Company Law…
FIR registered against the appellants,…
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The case involves an appeal against a High Court judgment that refused to quash an FIR registered against the appellants, who are officers of a company. The appellants argue that the FIR is a tactic to recover money allegedly owed under a contract, for which arbitration proceedings were initiated but stayed due to insolvency proceedings under the Insolvency and Bankruptcy Code, 2016. A moratorium was ordered by the National Company Law Tribunal, Kolkata Bench. The crux of the allegations is that the first accused-company obtained a contract from the NBCCL, sublet a portion of the work to the second respondent, which faced issues, leading to stalled work and unpaid dues. The complainant alleged suppression of facts regarding a restrictive covenant against subletting
…Aaditya Khaitan and others (appellants) are facing an FIR, which they claim is a tactic to recover money under a contract. Arbitration proceedings were initiated but stayed due to insolvency proceedings under the Insolvency and Bankruptcy Code, 2016, with a moratorium ordered by the NCLT. The first accused-company obtained a contract from NBCCL and sublet work to the second respondent, leading to issues and unpaid dues. The complainant alleged suppression of facts regarding a restrictive covenant against subletting without NBCCL's consent. The High Court refused to quash the FIR against the appellants, but quashed the FIR against the DGM of NBCCL. The contract between the first accused and the complainant was resumed on the directions of the High Court, even after the
…Moratorium ordered by the National Company Law…
FIR registered against the appellants,…
Sign in to view related legal provisions.