NATIONAL COMPANY LAW TRIBUNAL
Rajeev Bhardwaj, Judicial Member, Sanjay Puri, Technical Member
M/s.Catalyst Trusteeship Limited – Appellant
Versus
Vasavi Realtor LLP – Respondent
| Table of Content |
|---|
| 1. applicant removed as llp partner during cirp moratorium. (Para 1) |
| 2. partnership interest confirmed as cirp asset pre-expulsion. (Para 6) |
| 3. expulsion resolutions void; restore 20% partnership interest. (Para 8) |
ORDER
1. The present Application has been filed under Sections 60(5), 14 and 74 of the Insolvency and Bankruptcy Code, 2016 (“Code”), read with Rule 11 of the National Company Law Tribunal Rules, 2016, alleging that the Applicant was illegally removed as a partner from Respondent No.1, a Limited Liability Partnership, during the subsistence of the moratorium declared under Section 14 of the Code, and that such removal is void and non est in law. The Applicant accordingly seeks restoration of its status as a Partner in Respondent No.1, along with consequential reliefs.
2. Application
2.1 Respondent No.1 is a Limited Liability Partnership, incorporated on 24.01.2018 under the provisions of the Limited Liability Partnership Act, 2008 (LLP Act). Respondent Nos.2 to 5 are stated to be the partners of Respondent No.1. Respondent No.6 is the Lender, Respondent No.7 is the Security Trustee, and Respondent No.8 is the Borrower under the Memorandum of Deposit of Title De
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