On 6 banks request DRT orders Padmesh Gupta, 2 others not to leave India

NCLT clears insolvency of Nagpur based Gupta EnergyConsequent to default allegedly committed by M/s Gupta Coal (I) Pvt. Ltd.And 6 other defendants (as also by M/s Gupta Corporation Pvt.Ltd. These Banks have filed this application under section 19 of the Recovery of Debts & Bankruptcy Act, 1993 for recovery of Rs. The Banks have also sought interest at 16.65 pc per annum till date of payment.

In response to the application filed by 6 banks, Bank of India’s Mid Corporate Branch, Indian Overseas Bank, Tilak Nagar, Union Bank of India, Civil Lines, IDBI Bank Ltd., Bandra-Kurla, Mumbai, Allahabad Bank, Civil Lines and Vijaya Bank, Central Avenue in the City, the Debt Recovery ‘Tribunal, Nagpur’s Presiding Officer, C.VijayMohan has directed the 3 defendant-debtors, Padmesh Gupta, Anuradha Gupta and Piyush Marodia not to leave the coun-try, until further orders, without permission of the DRT here. The Tribunal has also ordered periodic inspection of passports of these persons. These Banks have filed this application under section 19 of the Recovery of Debts & Bankruptcy Act, 1993 for recovery of Rs. 2270,20, 81,426.80 and permanent injunction.