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On Co.-liquidator’s petition, NCLT directs promoters to return siphoned off funds to corporate debtor

May 23, 2019[2019] 105 328 (NCLT - Mum.)

IBC : Where liquidator noticed siphoning off of funds of corporate debtor and filed application for a direction to respondent directors/promoters to pay sum in respect of benefits received by them from corporate debtor, respondents were directed to return said sums and to revert back an equal amount of benefits received by them from corporate debtor

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