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NATIONAL COMPANY LAW TRIBUNAL
Vinay Goel, J
State Bank of India – Appellant
Versus
Tenny Jose – Respondent
| Table of Content |
|---|
| 1. contempt petition filed by financial creditor. (Para 1 , 2) |
| 2. respondents argued inability to comply due to financial distress. (Para 3 , 4 , 5) |
| 3. tribunal considered prior rulings and compliance obligations. (Para 6) |
| 4. dismissal of contempt petition with recommendation for execution a remedy. (Para 12 , 14) |
O R D E R
1. This Contempt Petition is filed under Section 425 of the Companies Act, 2013 , read with Sections 11 and 12 of the Contempt of Courts Act, 1971 , and Rule 11 of the NCLT Rules, 2016, by the Financial Creditor, State Bank of India, against the suspended directors of the Corporate Debtor Company, M/s Tenny Jose Limited (hereinafter referred to as “the Corporate Debtor”), for their alleged wilful and deliberate violation of the order dated 25.01.2023 passed by this Adjudicating Authority in IA(IBC)/204/KOB/2022.
Brief facts of the case: -
2. The petitioner filed CP(IBC)/25/KOB/2021 against the Corporate Debtor, Tenny Jose Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code). Based on the findings of a forensic audit, the Resolution Professional filed IA(IBC)/204/KOB/2022 under Section 66 of the Code seeking reversal of fra
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