The National Company Law Tribunal (NCLT), Mumbai on 20 August imposed Rs. 1 lakh costs on RAB Enterprises (India) Pvt Ltd for an approximately 11-month delay in seeking to place additional documents on record in an insolvency petition filed by Awfis Space Solutions Ltd.
A Bench of Judicial Member Lakshmi Gurung and Technical Member Charanjeet Singh Gulati allowed the company to place the additional documents on record but directed it to deposit Rs. 1 lakh in the Prime Minister’s National Relief Fund within seven days. It observed:
“Further, though the Applicant has sought to explain the delay by referring to changes in its secretarial and compliance personnel and its involvement in proceedings under the Prevention of Money Laundering…