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NATIONAL COMPANY LAW TRIBUNAL
Rohit Kapoor, Balraj Joshi, JJ
Ply Com Private Limited – Appellant
Versus
Nippon Alloy Limited (formerly Narayani Ispat Limited) – Respondent
| Table of Content |
|---|
| 1. application filed under ibc provisions (Para 1 , 2 , 3) |
| 2. respondents argue transaction legitimacy (Para 4 , 5 , 6) |
| 3. court analysis of transaction specifics (Para 7 , 8) |
| 4. establishing preferential and undervalued transactions (Para 9 , 10 , 11) |
ORDER
Per Balraj Joshi, Member (Technical)
1. This court convened via video conferencing.
2. This is an application filed filed by the Resolution Professional (RP) of the Corporate Debtor under sections 25(2), 43, 44, 66(1) and 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking the following reliefs against the suspended board of Directors and other Respondents herein:
(a) That the Adjudicating Authority be pleased to pass an order directing the Respondent No. 1 to 3 jointly and severally to repay a sum of ₹189.52 Lacs (Rs. One Crore Eighty-Nine Lakh and Fifty-Two Thousand only) to the Company in terms of section 43 of the Code;
(b) That the Adjudicating Authority be pleased to pass an order directing the Respondent no. 1 to 3 jointly and severally to repay a sum of Rs. 33.10 Lacs (Rs. Thirty-Three Lakh and Ten Thousand only) to the Company in terms of Sec 45 of the Code;
(c)That the Adjudicating Authority be ple
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