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NATIONAL COMPANY LAW TRIBUNAL
Prabhat Kumar, Member (Technical), Kishore Vemulapalli, Member (Judicial)
Bhrugesh Amin Resolution Professional of Modella Textile Industries Limited – Appellant
Versus
Mr. Kesharmal Nensukhlal Gandhi & Ors. – Respondent
| Table of Content |
|---|
| 1. application for preferential transactions filed. (Para 1 , 6) |
| 2. details of transactions submitted by the applicant. (Para 2 , 4 , 5 , 10 , 11 , 12 , 13 , 14) |
| 3. conditions for identifying transactions as preferential. (Para 7 , 8) |
| 4. outcome of the application regarding preferential transactions. (Para 18) |
ORDER
Per: Prabhat Kumar, Member (Technical)
1. The present Application IA-1074/2023 is filed on 17.03.2023 by the Applicant/Resolution Professional (RP), Mr. Bhrugesh Amin, under Section 43 of the Insolvency and Bankruptcy Code, 2016 ("Code") seeking following reliefs:
a) “Consider the present application IA-1074/2023 under Section 43 of IBC, 2016;
b) Direct the Respondents to make such contributions to the Corporate Debtor aggregating to sum of Rs.3,21,70,651/- each such Respondents jointly and equally, as stated in this Application with regard to the financial benefit extended by way of preferential treatment to related parties creditors and other creditors which falls within the look back period in terms of section 43 of the Code;
c) Pass appropriate directions/orders in terms of Section 44 , of the Code including for recovery/restoration of legitimate amount
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