The National Company Law Tribunal (NCLT), Ahmedabad Bench, comprising of Shri Shammi Khan (Judicial Member) and Shri Sameer Kakar (Technical Member), has directed the Promoters/Suspended Management of Sysco Industries Ltd. (Corporate Debtor) to deposit Rs. 7.78 Crores with the Corporate Debtor on the basis of a forensic audit report. The Resolution Plan for the Corporate Debtor was approved by NCLT in 2022. Further, the amount of Rs. 7.78 Crores is to be distributed to the erstwhile CoC members in their respective share.
The Resolution Professional had filed an application under Section 43 of IBC based on a forensic audit report, seeking reversal of amounts to the Corporate Debtor, in view of preferential transactions undertaken by the P…
Read the full article at: https://www.livelaw.in/ibc-cases/nclt-ahmedabad-directs-promoters-deposit-corporate-debtor-forensic-audit-report-242811