Home >Deals & Matter Corner>Matter>JSA successfully represented Resolution Professional of Smaaash Entertainment Private Limited before Ld. NCLT in obtaining an order of investigation against the erstwhile promoters for concealing important information from the Resolution Professional

JSA successfully represented Resolution Professional of Smaaash Entertainment Private Limited before Ld. NCLT in obtaining an order of investigation against the erstwhile promoters for concealing important information from the Resolution Professional

Matter
August 13, 2024

In landmark Judgment on the interplay of the Companies Act, 2013 (“Companies Act”) and the Insolvency and Bankruptcy Code, 2016 (“Code”), on 31.07.2024, Ld. National Company Law Tribunal (“Ld. NCLT”) passed an Order, under an application filed under Section 19 of the Code, issuing a notice under Section 213(2) of the Companies Act against the promoters of the Corporate Debtor to investigate if affairs of the Corporate Debtor was conducted to defraud the creditors. The NCLT Order provides relief to the Resolution Professional against the errant erstwhile management and discourages actions adopted by the erstwhile management in creating impediments in CIRP of the Corporate Debtor.

Our disputes team comprised: Lead Partner – Varghese Thomas, Partners – Kunal Kaul and Fatema Kachwalla, and Associate – Virgil Braganza.

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Fatema Kachwalla Partner

Fatema’s core practice area is Dispute Resolution. She mainly practices in High Court(s), City Civil Court(s) various benches of the National Company Law Tribunal and the National Company Law Appellate Tribunal.

Kunal Kaul Partner

Kunal specializes in Regulatory & Policy practice with focus on disputes in energy sector. His practice area includes regulatory proceedings before statutory authorities, tribunals and courts, commercial litigation (except where the core dispute is sector specific) and Constitutional & Administrative law litigation with focus on energy sector.

Varghese Thomas Partner

Varghese specialises in handling matters related to the Insolvency & Bankruptcy Code and debt recovery proceedings. He routinely appears for Indian and foreign banks.