Disposed

Kapil Puri Applicant/ Rupindra Singh Arora v. Kapil Puri

Bombay HC16 Jan 2024NMIS/2/2024

Case brief

AI extract

What is this about?

Insolvency motions regarding sale of the insolvent's equity shares and return of his driving licence; one motion disposed after the open offer lapsed, the other partly deferred with the Official Assignee to revert.

What did the court decide?

Motion No.2 disposed as worked out; Motion No.4 prayers (a) and (b) withdrawn with liberty; prayer (c) deferred pending Official Assignee's response.

Kapil Puri Applicant/ Rupindra Singh Arora vs Kapil… — Insolvency and Bankruptcy | Bombay HC (2024)

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26-NMIS-4-2024.doc

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS INSOLVENCY JURISDICTION

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NOTICE OF MOTION NO.2 OF 2024 IN

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INSOLVENCY PETITION NO.3 OF 2019

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KAPIL PURI )...APPLICANT

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IN THE MATTER OF

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RUPINDER SINGH ARORA )..PETITIONING CREDITOR V/S. KAPIL PURI )...INSOLVENT

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AND

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THE OFFICIAL ASSIGNEE OF BOMBAY )...RESPONDENT WITH NOTICE OF MOTION NO.4 OF 2024 IN INSOLVENCY PETITION NO.3 OF 2019

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Ms.Samridhi Lodha i/by Mr.Keegan Almeida, Advocate for the Petitioning Creditor.

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Mr.Rohaan Cama a/w. Mr.Sakil Ansari i/by AJA Legal, Advocate for the Applicant.

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Ms.C.J.Bhatt, Official Assignee a/w. Mr.Arun Kesarkar, Deputy Official Assignee and Mr.Subodh Patil, 1^st Assistant to the Official Assignee, present in the Court.

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Ms.M.R.Parkar, Insolvency Registrar, present in the Court.

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CORAM : ABHAY AHUJA, J. DATE : 5^th MARCH 2024

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26-NMIS-4-2024.doc

P.C. :

At the outset, Ms.Lodha, learned Counsel for the Petitioning creditor, submits that in order dated 20^th February 2024, in the appearance as well as in the first paragraph, Mr.Surendra Gupta has been described as the Chartered Accountant of the Applicant whereas he should have been referred to as the Constituted Attorney of the Petitioning creditor.

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Let the error be corrected. Rest of the order remains as it is. Let

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the corrected order be uploaded as soon as possible.

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NOTICE OF MOTION NO.2 OF 2024 IN INSOLVENCY PETITION NO.3 OF 2019

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Mr.Cama, learned Counsel, appears for the Applicant and submits that since the open offer available for the sale of equity shares held by the Insolvent in the Indian Bright Steel Co. Limited has already lapsed, the Notice of Motion has worked itself out and may be disposed, as in terms of Prayer clause (a) which was granted earlier by this Court, a Demat account in the joint names of Official Assignee as well as the Insolvent has already been opened. The Notice of Motion is, accordingly, disposed.

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26-NMIS-4-2024.doc

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NOTICE OF MOTION NO.4 OF 2024 IN

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INSOLVENCY PETITION NO.3 OF 2019

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As far as Notice of Motion No.4 of 2024 is concerned, Mr.Cama, learned Counsel, submits that with respect to Prayer clauses (a) and (b), he seeks leave of this Court not to press the same at this stage with liberty to file an appropriate application as and when the need arises. As regards Prayer clause (c), learned Counsel submits that since this Court has already granted permission to the Insolvent to render consultancy services / conduct business and to travel within India for his business, there should be no harm in returning the Insolvent’s original driving license to enable him to drive a vehicle for commuting purpose.

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Learned Official Assignee seeks some time to revert on the same.

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Let the learned Official Assignee revert by the next date.

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List on 19^th March 2024 .

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(ABHAY AHUJA, J.)

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ARTI VILAS KHATATE

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Digitally signed by ARTI VILAS KHATATE Date: 2024.03.05 19:22:14 +0530

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Kapil Puri Applicant/ Rupindra Singh Arora v. Kapil Puri

Case brief

What is this about?

What did the court decide?

Kapil Puri Applicant/ Rupindra Singh Arora v. Kapil Puri

Case brief

What is this about?

What did the court decide?

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