HBN Dairies Director's Property Attachment Case

Quick Summary

This case involves an ex-director of HBN Dairies and Allied Limited, a company currently undergoing insolvency proceedings. The director's residence is facing attachment and possession by the Liquidator. A hearing for the director's application before the NCLT is delayed due to a vacant Presiding Officer position. Previous proceedings involved SEBI attaching substantial securities from the company.

Court :
High Court Delhi

Brief :
The present petition has been filed by the Petitioner, who is an ex/suspended Director of Respondent No. 1 Company i.e. M/s. HBN Dairies and Allied Limited (hereinafter “Company”), which is currently under insolvency proceedings before the National Company Law Tribunal (NCLT). The submission of the ld. Counsel is that the Petitioner’s residence is sought to be attached and possession is sought to be taken by the Liquidator. An application has been moved by the Petitioner before the NCLT and the same is not being taken up for hearing due to the term of the Presiding Officer having ended and no new Presiding Officer has been appointed.

Citation :
W.P.(C) 7891/2020 and CM APPLs. 25865/2020, 25866/2020

Daily Limit Reached