2019] 215
of
section
43
of
the
I&B
Code
to
be
labelled
as
preferential
transactions.
Therefore,^
the
prayers
of
the
Applicant
at
paras
15 ,
18 ,
20 ,
22 ,
24 ,
26
&
28
of
this^
order
are
also
allowed
being
preferential
transactions
and
the
power
is
exercised^
under
section
44 ( 1 )(d)
of
the
I&B
Code
to
require
the
aforesaid
re
spondents -
to
pay
such
sums
in
respect
of
the
benefits
received
by
them
from
the^
Corporate
Debtor
In
view
of
these
observations
and
considering
the
totality
of
facts
&
cir
cumstances -
of
this
case,
this
MA
is
allowed
in
its
entirety.
The
Respondents
are^
directed
to
return
the
syphoned
sums
as
stated
above
in
this
order.
The
Respondents^
are
also
directed
to
revert
back
an
equal
amount
of
benefits
re
ceived -
by
them
from
the
Corporate
Debtor.
Failure
to
comply
with
this
order
will^
push
this
Bench
to
take
penal
actions
under
sections
70 - 73
of
the
Code.MA
436
of
2018
Allowed.
Ordered
Accordingly.
nn[2019] 154 SCL 215/106 taxmann.com 224 (NCLT-Jaipur)
NATIONAL COMPANY LAW TRIBUNAL, JAIPUR BENCHAvon Clothing (P.) Ltd.
v.
Siddarth Intercrafts (P.) Ltd.
DR. DEEPTI MUKESH, JUDICIAL MEMBER
COMPANY PETITION (IB) NO. 05/JPR/2018
MAY 17, 2019u Whether where corporate debtor had nowhere disputed invoices or its
contents prior to issue of section 8 notice and moreover, post receiving notice
made part payment to operational creditor, instant application to initiate
CIRP against corporate debtor was to be admitted
u Where registered office of corporate debtor was situated in Jaipur, Adju-
dicating Authority at Jaipur had territorial jurisdiction to entertain and try
application under section 9
u Where default took place on or after 22-3-2017, instant application filed
in year 2019 to initiate CIRP against corporate debtor was within limitation
period, and thus, same was to be admitted
Section 5(6), read with section 9 of the Insolvency and Bankruptcy Code, 2016,
Avon Clothing (P.) Ltd.
v.
Siddarth Intercrafts (P.) Ltd. (NCLT - Jaipur)