NCLAT dismissed the appeal filed by J. V. Strips Ltd. as devoid of merit. The court held the impugned order suffered no infirmity, noting raw material supplied for job work could not be arbitrarily withheld when claims were substantiated by documents.
Appeal dismissed as devoid of merit; impugned order upheld.
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NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI Company Appeal (AT) (Insolvency) No. 159 of 2019
IN THE MATTER OF:
J. V. Strips Ltd.
…Appellant
Vs
D. P. Garg and Company Pvt. Ltd. & Ors.
….Respondents
Present:
For Appellant:
Mr. Shantanu Sagar, Mr. Syed Sarfraz Kerim and
Mr. Shashwat Anand, Advocates.
For Respondents: Mr. Nakul Mohta and Mr. Ankur Goel, Advocates.
O R D E R
19.02.2019: After hearing learned counsel for the Appellant for a while I am of the considered view that the impugned order does not suffer from any infirmity. The appeal has been filed by Resolution Professional, who may have a genuine concern in regard to the excess stock seized by the GST Authorities. However, it clearly emanates from the impugned order that the raw material supplied to Corporate Debtor for the job work by various persons could not be arbitrarily withheld, more so as the claimants have substantiated their claim qua the same based on relevant documents.
The appeal being devoid of merit is dismissed.
[Justice Bansi Lal Bhat] Member (Judicial)
am/gc
1 issue framed by the court
Whether the impugned order by the Adjudicating Authority is infirm and requires intervention by the Appellate Tribunal in this appeal filed by the Resolution Professional.
J. V. Strips Ltd.
D. P. Garg and Company Pvt. Ltd.
Bansi Lal Bhat
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
