NCLAT dismisses Narender Kumar, Tewari and Mitra’s appeal in Pioneer case
After hearing the case for now over 9 months NCLAT finally dismissed all three appeals as ‘non maintainable’.
The National Company Law Appellate Tribunal (NCLAT) on Thursday dismissed appeals filed by Kushan Mitra, Prashant Tewari and Narendera Kumar seeking setting aside of NCLT order on January 19,2021 suspending the board which managed the newspaper called The Pioneer.
This means that the committee of creditors headed by the Central Bank which has lent Rs 9 crore to the company would now takeover the operations and seek new investors for the paper.
One of the editorial directors of the paper Amit Goel had moved NCLT for recovery of his more than Rs2.5 crore from the compay CMYK Printech Limited, the company that owns Pioneer. When the company —managed by Chandan Mitra, his son Kushan Mitra, his wife Shobori Ganguly, wife sister Tanushree Ganguly and Vijay Prakash Singh in charge of Lucknow operations — denied owing any money to Amit Goel, NCLT suspended the board and appointed its man to take over the operations.
Subsequently Chandan Mitra—who subsequently passed away in September—Kushan Mitra , Prashant Tewari and Narender Kumar publisher of Harnandan Publications filed appealed with NCLAT on different grounds seeking dismissal of NCLT order.
NCLAT after hearing the case for now over 9 months finally dismissed all three appeals as ‘non maintainable’.
