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2021 (10) TMI 83 - AT - Insolvency and BankruptcyTransfer of the Corporate Debtor funds to Respondent No. 1 - fraudulent purpose or not - seeking direction to Respondent No. 2 (Appellant No. 1 herein) and Respondent No. 3 (Respondent No. 2 herein) jointly and severally to contribute ₹ 65 lacs to the Corporate Debtor - HELD THAT:- The Corporate Debtor -'Perfect International Private Limited' and the Appellant No. 2 entered into two Agreements viz. Agreement dated 12.10.2015 and 16.08.2016 respectively - Corporate Debtor made the first tranche of payment on 19.12.2016 of ₹ 25,00,000/- including the advance of ₹ 5,00,000/- as a part payment of the initial contract of 2015 for facilitation of securing long term working capital loan for the Corporate Debtor. Corporate Debtor released the second tranche of payment of ₹ 30,00,000/- to the Appellant No. 2 which included ₹ 4,00,000/- as balance commission amount for arranging the long term working capital loan from SREI Equipment Finance Limited and ₹ 26,00,000/- as part of commission for getting business order from M/s. Regen Powertech Private Limited - Corporate Debtor released the third tranche of payment on 31.03.2018 amounting to ₹ 10,00,000/- as balance commission amount for getting business order from M/s. Regen Powertech Private Limited. There is no illegality committed by the Ld. Adjudicating Authority while passing the impugned order. The impugned order passed by the Ld. Adjudicating Authority (National Company Law Tribunal), Special Bench, Chennai is hereby affirmed - Appeal dismissed.
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