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NATIONAL COMPANY LAW TRIBUNAL
Shri Prabhat Kumar, Hon’ble Member (Technical), Shri Sushil Mahadeorao Kochey, Hon’ble Member (Judicial)
Mukesh Verna – Appellant
Versus
Chirag Pittie – Respondent
| Table of Content |
|---|
| 1. application filed regarding fraudulent trading and financial misconduct. (Para 1 , 2 , 5) |
| 2. fraudulent actions alleged based on transaction audit findings. (Para 6 , 12) |
| 3. establishing burden of proof and maintaining necessary elements of fraud in trading. (Para 10 , 11 , 13) |
| 4. determination of directors' liability and court's order regarding transactions. (Para 15 , 16 , 17) |
ORDER
1. This Application IA 2508/2025 was filed on 29.04.2025 by Mr. Mukesh Verma (“Applicant/RP”), the Resolution Professional of M/s Shrivallabh Pittie Industries Limited (“Corporate Debtor”) under the Provision of Section 66 Read with 67 of the Insolvency and Bankruptcy Code, 2016 (“Code”) r/w Regulation 35A of Insolvency and Bankruptcy Board Of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for fraudulent and wrongful trading seeking following reliefs:-
a) Be pleased to declare aforesaid transactions as done by Respondents mentioned in paragraphs 4 to 21, as fraudulent transactions under the provisions of section 66 (1) and (2) of the Code.;
b) Be pleased to pass consequential orders against Respondent No. 1 to 5 to jointly and severally contribute INR 285,61
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