SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
judgment-img

2024 Supreme(Online)(NCLT) 5258

NATIONAL COMPANY LAW TRIBUNAL
Shyam Babu Gautam, Member (Technical), T. Krishna Valli, Member (Judicial)
M/s. Savute Textiles Private Limited – Appellant
Versus
Mr. Venesan Gopinathan, Managing Director – Respondent


Advocates:
For the Applicant: Mr. Akhil Suresh, Adv.
For the Respondents: Mr. Shameem Ahamed, Adv., Mrs. Liza Meghan, Adv., Mr. K.S. Ravichandran, PCS, Mr. Joseph Kodianthara, Senior Adv., Mr. K.V. Krishna Kumar, Adv.

ORDER

Per: Coram

1. The present application is filed by the Applicant, who is the Resolution Professional of the Corporate Debtor M/s. Savute Textiles (P) Limited under Section 66 of the IBC, 2016 for the following reliefs: -

i. To declare the business agreement dated 02.01.2019 vide Annexure A-10 transferring the entire asset of the Corporate Debtor to the 4th Respondent as null and void.

ii. goods and work-in-progress as on 20.10.2022 worth Rs. To direct the 4th Respondent to Transfer raw material, finished 19,15,19,796/- to the Corporate Debtor.

iii. Direct the 1st Respondent to pay a sum of Rs. 4,14,40,042/- to the account of the Corporate Debtor on account of advances made by the CD without approval.

iv. Direct the 4th Respondent to Transfer a sum of Rs. 2,00,12,550 on account of siphoned off the cash resources of Corporate Debtor.

v. Direct the 10th Respondent to deposit a sum of 2,35,87,372/- illegally siphoned out of the fund of Corporate Debtor through bogus and sham trade transactions.

vi. Direct the 11th Respondent to deposit a sum of Rs. 2,18,74,525/- illegal siphoned out of the fund of Corporate Debtor through bogus and sham trade transactions.

vii. Direct the 12th Respondent

Click Here to Read the rest of this document
1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top