Dismissed

In the matter of Karthik Alloys Limited Cont.A-01(MB)-2022 in C.P.(IB)-2119(MB)-2019

NCLT3 Mar 2023

Case brief

AI extract

What is this about?

This order dismisses a contempt application filed by employees of Karthik Alloys Limited against the Resolution Professional and SBI CoC Member. The Tribunal found that the applicant's dues were already confirmed as paid in the RP's additional affidavit.

What did the court decide?

Application dismissed on the ground that the applicant's dues were already confirmed as paid.

In the matter of Karthik Alloys Limited… — Insolvency and Bankruptcy | NCLT (2023)

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IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH : COURT-IV

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Cont.A/01(MB)/2022 in

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C.P.(IB)-2119(MB)/2019

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Under Rule 11 of the NCLT Rules, 2016.

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Application moved by : Ashwini Fal Dessai and Ors.

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...Applicant

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Vs.

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Anneel Saraogi, RP ….Contemnor No.1

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State Bank of India, CoC Member

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….Contemnor No.2

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In the matter of Vedanth.com Worldwide Limited

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...Operational Creditor

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Vs.

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Karthik Alloys Limited

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...Corporate Debtor

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Order Pronounced on : 03.03.2023

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Coram : Hon’ble Shri Kishore Vemulapalli : Member (Judicial) Hon’ble Shri Prabhat Kumar : Member (Technical) Appearances: For the Applicant(s) : Mr. T.N. Chandrassekar, Advocate.

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Page 1 of 2

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IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH : C-IV

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Cont.A/01(MB)/2022 in CP(IB)-2119(MB)/2019

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For the Respondents : Mr. Ranit Basu, Advocate.

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O R D E R

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Per: Prabhat Kumar, Member (Technical)

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This Contempt Application has been filed by Ms. Ashwini Fal Dessai & Ors. (Employees of Karthik Alloys Ltd.) under Rule 11 of the NCLT Rules, 2016 against the Resolution Professional (RP) and SBI (CoC Member) seeking action against the Contemnors for their disobedience of the orders of this Tribunal dated 27.10.2021. However, on perusal of the records, it is noticed that the Resolution Professional had filed additional affidavit in compliance of the order dated 14.07.2022 of this Bench in IA-1142/MB/2021 in CP-2119/MB/C-IV/2019 wherein the RP has deposed at para 6 that dues of all the employees, except one who is Director of the Corporate Debtor, for the period of 17^th December, 2019 to 31^st December, 2021 have been paid and has also given the employees-wise details of such Payment.

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On perusal of this list, it is observed that this list contains name of the Applicant and confirms payment of Rs.3,76,006/- to him. In view of this, the present Application does not survive. Hence, this Application is dismissed.

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Sd/Sd/-

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PRABHAT KUMAR KISHORE VEMULAPALLI MEMBER (TECHNICAL) MEMBER (JUDICIAL) 03.03.2023 / pvs

In the matter of Karthik Alloys Limited Cont.A-01(MB)-2022 in C.P.(IB)-2119(MB)-2019

Case brief

What is this about?

What did the court decide?

In the matter of Karthik Alloys Limited Cont.A-01(MB)-2022 in C.P.(IB)-2119(MB)-2019

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

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