In the matter of Central Bank of India v. Anil Kumar Kedia, Cp (IB)/398(KB)/2021
Case brief
What is this about?
The Tribunal reserved the insolvency resolution application against a personal guarantor. Citing a recent Supreme Court order questioning sections of the IBC, the matter was adjourned to await the Supreme Court's outcome while directing the respondent to preserve assets.
What did the court decide?
Adjournment to 06/09/2022; direction to respondent not to transfer, alienate, encumber or dispose of any assets or beneficial interest.
IN THE NATIONAL COMPANY LAW TRIBUNAL KOLKATA BENCH KOLKATA
C.P.(IB)/398(KB)2021
Under section 95(1) of the Insolvency and Bankruptcy Code, 2016 read with rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019.
In the matter of:
Central Bank of India
...Applicant
-Versus-
Mr. Anil Kumar Kedia
...Respondent
Order Reserved on: 22/06/2022 Order Pronounced on: 15/07/2022 Coram: Shri Rohit Kapoor : Member (Judicial) Shri Harish Chander Suri : Member (Technical)
Appearances (through video conferencing)
Issues for consideration
2 issues framed by the court
Whether the proceedings against the respondent should be suspended pending the outcome of related writ petitions before the Supreme Court.
Whether the respondent is restrained from transferring or alienating assets during the adjournment.
Parties & counsel
- applicant
Central Bank of India
- respondent
Mr. Anil Kumar Kedia
Coram
Harish Chander Suri
Case details
As recorded by the court registry
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