The case involves a scheme of compromise and arrangement proposed by Vigneshwara Developwell Private Limited and Vigneshwara Developers Private Limited under sections 391-393 of the Companies Act, 1956. Winding-up petitions against these companies were admitted, and a Provisional Liquidator was appointed. The Ex-Management engaged in mediation with creditors, leading to settlements. The promoters are in judicial custody due to proceedings initiated by unsecured creditors. NCLT passed an order appointing an Interim Resolution Professional and declared a moratorium under section 14 of the IBC, which was stayed by the High Court until the judgment or NCLAT's decision.
Vigneshwara Developwell Private Limited and Vigneshwara Developers Private Limited proposed a scheme of compromise and arrangement under sections 391-393 of the Companies Act, 1956. Winding-up petitions were admitted against the companies, and a Provisional Liquidator was appointed. The Ex-Management engaged in mediation with creditors, resulting in settlements. The promoters, Sunil Dhaya and Sanjay Dhayia, are in judicial custody due to proceedings initiated by unsecured creditors. The companies have two pending projects: iValley Business Project and Aquarius Project. NCLT passed an order appointing an Interim Resolution Professional and declaring a moratorium under section 14 of the IBC, which was stayed by the High Court. The scheme involves settling claims of
…Sign in to view the parties.
The judgmen…
The judgmen…
The case involves a scheme of compromise and arrangement proposed by Vigneshwara Developwell Private Limited and Vigneshwara Developers Private Limited under sections 391-393 of the Companies Act, 1956. Winding-up petitions against these companies were admitted, and a Provisional Liquidator was appointed. The Ex-Management engaged in mediation with creditors, leading to settlements. The promoters are in judicial custody due to proceedings initiated by unsecured creditors. NCLT passed an order appointing an Interim Resolution Professional and declared a moratorium under section 14 of the IBC, which was stayed by the High Court until the judgment or NCLAT's decision.
Vigneshwara Developwell Private Limited and Vigneshwara Developers Private Limited proposed a scheme of compromise and arrangement under sections 391-393 of the Companies Act, 1956. Winding-up petitions were admitted against the companies, and a Provisional Liquidator was appointed. The Ex-Management engaged in mediation with creditors, resulting in settlements. The promoters, Sunil Dhaya and Sanjay Dhayia, are in judicial custody due to proceedings initiated by unsecured creditors. The companies have two pending projects: iValley Business Project and Aquarius Project. NCLT passed an order appointing an Interim Resolution Professional and declaring a moratorium under section 14 of the IBC, which was stayed by the High Court. The scheme involves settling claims of
…The judgmen…
The judgmen…