The Indian Bank filed an appeal against an order passed by the National Company Law Appellate Tribunal (NCLAT). The NCLAT order, dated 21.07.2023, granted sixty days to UCO Bank to consider a one-time settlement proposal submitted by the corporate debtor, M/s Darjeeling Organic Tea Estates Private Limited. The appellant contended that the corporate debtor was misusing this order to deal with and handover the physical possession of the properties of the corporate debtor. The respondent, Ashok Kumar Tyagi, former director of the corporate debtor, stated that an earlier NCLAT order dated 10.01.2023, prohibiting alienation of assets, continues to apply.
The Indian Bank filed a civil appeal against Ashok Kumar Tyagi & Ors. regarding an order passed by the National Company Law Appellate Tribunal (NCLAT). The NCLAT order, dated 21.07.2023, granted 60 days to respondent no. 2, UCO Bank, to consider a one-time settlement proposal submitted by the corporate debtor, M/s Darjeeling Organic Tea Estates Private Limited. Indian Bank contended that the corporate debtor was misusing this order to deal with and handover the physical possession of the properties. Ashok Kumar Tyagi, former director of the corporate debtor, stated that an earlier NCLAT order dated 10.01.2023, prohibiting alienation of assets, continues to apply. The Interim Resolution Professional, Santanu Brahma, has been appointed and is functioning as per the
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NCLAT passed an order…
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The Indian Bank filed an appeal against an order passed by the National Company Law Appellate Tribunal (NCLAT). The NCLAT order, dated 21.07.2023, granted sixty days to UCO Bank to consider a one-time settlement proposal submitted by the corporate debtor, M/s Darjeeling Organic Tea Estates Private Limited. The appellant contended that the corporate debtor was misusing this order to deal with and handover the physical possession of the properties of the corporate debtor. The respondent, Ashok Kumar Tyagi, former director of the corporate debtor, stated that an earlier NCLAT order dated 10.01.2023, prohibiting alienation of assets, continues to apply.
The Indian Bank filed a civil appeal against Ashok Kumar Tyagi & Ors. regarding an order passed by the National Company Law Appellate Tribunal (NCLAT). The NCLAT order, dated 21.07.2023, granted 60 days to respondent no. 2, UCO Bank, to consider a one-time settlement proposal submitted by the corporate debtor, M/s Darjeeling Organic Tea Estates Private Limited. Indian Bank contended that the corporate debtor was misusing this order to deal with and handover the physical possession of the properties. Ashok Kumar Tyagi, former director of the corporate debtor, stated that an earlier NCLAT order dated 10.01.2023, prohibiting alienation of assets, continues to apply. The Interim Resolution Professional, Santanu Brahma, has been appointed and is functioning as per the
…NCLAT passed an order…
Corporate debtor…
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