2022 (1) TMI 1244

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....RP and inter alia seeking following prayers: i. Issue "Notice to Respondent No. 1 to 4 as per Memo of Parties. ii. That the Hon'ble Tribunal may pass necessary directions as it may deem but under the provision of section 44 and 66 of Insolvency and Bankruptcy Code, 2016. iii. Direct Mr. Sandeep Sood to transfer the money back to the account of corporate debtor which are the subject matter of fraudulent transactions and/or preferential transactions in this application. iv. Issue such necessary orders as may be deemed fit in the matter by Hon'ble Tribunal. 2. The Application under Section 9 of the Insolvency & Bankruptcy Code, 2016 filed by the Operation Creditor M/s. Seitz Gmbh was admitted on 0....

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....2.2018 Lotus Imports 13,00,000 2. 20.02.2018 Lotus Imports 7,00,000 3. 15.03.2018 Lotus Imports 10,00,000 4. 21.03.2018 Lotus Imports 5,00,000 5. 04.04.2018 Lotus Imports 7,00,000 6. 18.04.2018 Lotus Imports 2,75,000 7. 18.04.2018 Lotus Imports 2,00,000 8. 01.05.2018 Lotus Imports 1,00,000 9. 18.05.2018 Lotus Imports 1,10,000 10. 04.06.2018 Lotus Imports 1,95,000 11. 07.06.2018 Lotus Imports 3,00,000 12. 11.06.2018 Lotus Imports 1,00,000 13. 13.06.2018 Lotus Imports 1,20,000 14. 25.06.2018 Lotus Imports 1,00,000 15. 26.06.2018 Lotus Imports 50,000 16. 26.06.2018 ....

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.... on 19.09.2019, RP received an email from Mr. Sandeep Sood asking about the beneficiary of two transactions knowing fully well that be himself Mr. Sandeep Sood is the authorized signatory to the bank account and no such payment is possible without his knowledge. That on 20.09.2019, RP received an email from Mr. Alexander Seitz stating that since 5.02.2018. Mr. Sandeep Sood is in sole custody and possession of all records, documents and assets of corporate debtor. Further, it was also stated these transactions have been made by Mr. Sandeep Sood without the knowledge and consent and therefore, it is Mr. Sandeep Sood can explain and answer these transactions as he is was the sole signatory to the bank account of corporate debtor. The applicant....

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....all. 7. The applicant further submits that Mr. Sandeep Sood, ex-Director and Respondent No. 1 transferred Rs. 63,50,000 in the bank account of his own proprietorship firm M/s. Lotus Imports (Respondent No. 2) as per details mentioned in table 1 and Rs. 68,000 in bank account of his wife as per details mentioned in table 3, which clearly shows that he was operating the bank account and business of corporate debtor without the knowledge of other director and with an intent to defraud creditors of corporate debtor and can be termed as fraudulent transactions in accordance with the provisions of the Code. Further, Respondent No. 1 has not given any reply till date about the payment being mentioned at table 4, which clearly show his malafide ....