03/05/2024

When claim and counter claims are involved Liquidator cannot decide the same – FLSmidth Pvt. Ltd. Vs. Lanco Infratech Ltd. – NCLAT Chennai

It is the Appellant’s case that CD having awarded the purchase order and the work order failed to honor its obligations and therefore, the Appellant could not get the expenditure incurred by it on these accounts to the tune of Rs.31.71 crore from the CD and therefore, it should be considered a debt due to be repaid by the CD. The RP admitted an amount of Rs.13.47 crore only.

NCLAT observed that Liquidator has given sufficient reasons for disallowing the claim of the Appellant in her letter to the Appellant. NCLT, Hyderabad have dealt on these issues in detail and given succinct reasons as to why they have accepted the submission and reasoning of the Liquidator as to why she has rejected the claim of the Appellant. They have rightly held that when claim and counter claims are involved Liquidator cannot decide the same and therefore the Liquidator rightly rejected the claim.

When claim and counter claims are involved Liquidator cannot decide the same – FLSmidth Pvt. Ltd. Vs. Lanco Infratech Ltd. – NCLAT Chennai Read Post »

Company Petition under Sections 58, 59, 241, 242 & 244 of the Companies Act, 2013 complaining of acts of oppression and mismanagement in respect of the affairs of ABP Pvt. Ltd. is dismissed – Aveek Kumar Sarkar and Ors. Vs. ABP Pvt. Ltd. and Ors. – NCLT Kolkata Bench

In the corporate governance , making of the company policy, defining the organizational structure and assigning particular management position to individuals for its implementation is necessarily in the functional domain of the Board and the Management of the company, who are tasked with making the decisions of running the company in a pragmatic manner by adopting best management practices, keeping the best interest of the company in mind.

Company Petition under Sections 58, 59, 241, 242 & 244 of the Companies Act, 2013 complaining of acts of oppression and mismanagement in respect of the affairs of ABP Pvt. Ltd. is dismissed – Aveek Kumar Sarkar and Ors. Vs. ABP Pvt. Ltd. and Ors. – NCLT Kolkata Bench Read Post »

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