Tridhaatu Kirti Developers LLP Vs. Mr. Arihant Nenawati, Liquidator of Royal Refinery Pvt. Ltd. – NCLAT New Delhi
NCLAT held that it is very much clear from the Section 66 of IBC that it is the intention to defraud creditors at that stage Section 66 is applicable. This section empowers the Adjudicating Authority to pass an order for recovery from such fraudulent parties as contribution to the assets of the CD.
