9911796707
TMI Blog2019 (1) TMI 1873X X X X Extracts X X X X X X X X Extracts X X X X ..... he banks to the tune of ₹ 5383 crores. No such moratorium order has been passed to stay the criminal proceedings and appeal against the attachment order is already pending before the Appellate Authority of PMLA Adjudicating Authority. Application dismissed. - CP(IB) 490(MB)/2018, MA 1243/2018 - - - Dated:- 9-1-2019 - SHRI V. P. SINGH, MEMBER (J) And SHRI RAVIKUMAR DURAISAMY, MEMBER (T) ORDER 27. MA 1243/2018 IN CP (IB)-490/MB/2018 MA 1243/2018 has been filed by the Resolution professional under Section 60(5) of the IBC, 2016 wherein two reliefs have been sought, i.e. (i) release the movable and immovable properties of the Corporate Debtor which have been attached pursuant to the Attachment Order and (ii) quash the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s constituted in the First CoC meeting and the said Committee was authorised to decide on the invitation for Expression of Interest, Evaluation Matrix, any other related timelines and other related matters. The CoC received a revised offer from the promoter of the Corporate Debtor for one-time settlement (OTS) of the financial debt. The RP was informed that the members of the CoC had received the OTS from the promoters of the Corporate Debtor and the members of the CoC instructed the RP to defer the publication of advertisement seeking expression of interests from prospective resolution applicants. It is further contended that on instructions of CoC, the application was filed by the Resolution Professional under Section 60(5) of IBC, 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... FIR of CBI, BS FC, New Delhi, under sections 13(2) r/w 13 (1) (d) of PC Act, 1988 and 120B read with 420, 467, 468 471 of IPC, 1860 against the Corporate Debtor, M/s Sterling Biotech Ltd., and Mr ChetanSandesara and Mr Nitin Sandesara suspended Directors of the Corporate Debtor for hatching criminal conspiracy with each other with dishonest intention to cheat Andhra Bank and other public sector banks and for causing wrongful loss to the banks to the tune of ₹ 5383 crores. It is further stated that during the investigation and by material collected in the instant case, it transpired that Sterling Biotech Ltd. group and its Directors had caused a loss of ₹ 5,094.89 Crores to a consortium of banks (including public as well as pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
