NATIONAL COMPANY LAW TRIBUNAL

COURT-V, MUMBAI BENCH

(SPECIAL BENCH)

IN THE MATTER OF

MICRO Capitals Private Limited … Petitioner

Vs

KSS Limited … Respondent

U/s 7 of the Insolvency and Bankruptcy Code, 2016

Order Delivered on 01.08.2025

CORAM:

SH. SUSHIL MAHADEORAO KOCHEY SH. CHARANJEET SINGH GULATI

MEMBER (J) MEMBER (T)

Appearance through VC/Physical/Hybrid Mode:

For the Petitioner:

For the Respondent:

_____________________________________________________________________

ORDER NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT - V I.A. 4648/2023 IN C.P. NO. 748(IB)/MB/2022 Under Section 43 of the Insolvency and Bankruptcy Code, 2016.

IA/4648/2023- The Above IA/4648/2023 is listed for pronouncement of order. The

same is pronounced in open court, vide a separate order.

Sd/- Sd/-

CHARANJEET SINGH GULATI SUSHIL MAHADEORAO KOCHEY

Member(Technical) Member(Judicial)

//Avdhesh//

Mr. Dharmendra dhelariya Resolution Professional of the Corporate Debtor KSS Limited …. Applican Versus

1. Jayashree Vilas Gangurde Suspended member of Board of Directors

7/16, S.V. Road, Pirmal Nagar, Goregaon West, Mumbai, Maharashtra –

400104.

Email: jsgeeta07@gmail.com

2. Dharmveer Singh Magan Singh Shekhawat Suspended member of Board of Directors

201, Shajanand Complex, Shahibaug, Ahmedabad, Gujarat – 380004.

Email:

dharmveer_shekhawat@yahoo.com

3. Harsh Upadhyay Suspended member of Board of Directors

2-K-29, Chpasani Housing Board, Nandanwan, Jodhpur, Rajasthan –

342008.

Email: harsh.upadhyay@kserasera.com

4. Monika Meena Suspended member of Board of Directors

10-H-25, Parijat Yoajna, Mahaveer Nagar 3, Keshopura, Kota, Rajasthan –

324005.

Email: meenamadvocate@gmail.com

5. Sandip Joshi Suspended member of Board of Directors

20, Kondeshwar Colony, Sai Nagar, Amravati, Maharashtra – 444607.

Email: tirupatienterprises2017@gmail.com

6. Bhargav Vishalbhai Ahir Suspended member of Board of Directors

18, Vrundavan Bunglows-1, Opp. Shridhar Farm, Shilaj Road, Thaltej, Ahmedabad, Gujarat – 380059. Email: bhargav5103@gmail.com …. Respondent In the matter between:

Micro Capitals Private Limited Having its registered office at:

Shop no. 35, Sonam shopping Centre CHS Ltd, Old Golden Nest, MiraBhayander- East Thane, MH-401105.

…. Financial Creditor Versus KSS Limited Having its registered office at:

Unit 101 A, 1^st Floor, Plot No. B-17, Maurya landmark II, Andheri (West), Mumbai, 400053.

…. Respondent Order Pronounced on:01.08.2025 Coram:

Hon’ble Sh. Sushil Mahadeorao Kochey, Member (Judicial)

Hon’ble Sh. Charanjeet Singh Gulati, Member (Technical)

Appearances:

For Applicant: Adv. Prathamesh Nirkhe (PH)

For Respondent:

ORDER

I.A. NO. 4648/2023

1. The present application has been filed by the Applicant/Resolution Professional under Section 43 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’), with following prayers:

a) That this Hon’ble Tribunal may be pleased to pass necessary adjudication in the facts and circumstances of this case and be pleased to declare the various transactions carried out by the Corporate Debtor within the look-back period of two years preceding from the date of Insolvency commencement with related parties of the Corporate Debtor as a preferential transaction;

b) That this Hon’ble Court may be pleased to make necessary adjudication in the facts and circumstances of this case and necessary directions be passed in terms of section 43 of the Insolvency and Bankruptcy Code, 2016 particularly.

c) That this Hon’ble Court may be pleased to direct the Respondents to contribute the amount of Rs. 47,92,646/- (Rupees Forty-Seven Lakhs Ninety-Two Thousand Six Hundred and Forty-Six Only) towards the Preferential Transactions carried out as per Section 43 of the Insolvency and Bankruptcy Code, 2016.

d) Such further or other order or orders as this Hon’ble Tribunal may deem fit and proper in accordance with the Civil Procedure Code and the Code of Criminal Procedure.

e) Any other directions which this Hon’ble Tribunal may deem fit.

Brief Facts as per the Application:

2. The Financial Creditor had filed an Applicat