This writ appeal challenges the order of a learned Single Judge dated 6th March 2024, which allowed a writ petition and declared the e-filing of a petition under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016 as non est and illegal. The original writ petition sought to restrict the National Company Law Tribunal (NCLT) from taking any action on the Section 95 petition, arguing that the Registrar of the NCLT cannot adjudicate on the maintainability of such petitions at the filing stage. The appellant, Buoyant Technology Constellations Pvt. Ltd., had filed the Section 95 petition against M/s Manyata Reallty, a partnership firm, claiming a debt of Rs. 8,11,49,54,687/-. Manyata Reallty contended that the Section 95 petition was not maintainable against a
…Buoyant Technology Constellations Pvt. Ltd. (appellant) filed a petition under Section 95 of the Insolvency and Bankruptcy Code (IBC) against M/s Manyata Reallty (respondent), a partnership firm, claiming a debt of Rs. 8,11,49,54,687/-. Manyata Reallty filed a writ petition challenging the maintainability of the Section 95 petition, arguing that it was not maintainable against a partnership firm and that the Registrar of the NCLT could not have entertained it. The Single Judge allowed the writ petition, declaring the e-filing of the Section 95 petition as non est and illegal. The appellant filed a writ appeal against the Single Judge's order. Manyata Reallty and Buoyant Technology had entered into joint development agreements between 2010 and 2015 covering 103 acres of
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This writ appeal challenges the order of a learned Single Judge dated 6th March 2024, which allowed a writ petition and declared the e-filing of a petition under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016 as non est and illegal. The original writ petition sought to restrict the National Company Law Tribunal (NCLT) from taking any action on the Section 95 petition, arguing that the Registrar of the NCLT cannot adjudicate on the maintainability of such petitions at the filing stage. The appellant, Buoyant Technology Constellations Pvt. Ltd., had filed the Section 95 petition against M/s Manyata Reallty, a partnership firm, claiming a debt of Rs. 8,11,49,54,687/-. Manyata Reallty contended that the Section 95 petition was not maintainable against a
…Buoyant Technology Constellations Pvt. Ltd. (appellant) filed a petition under Section 95 of the Insolvency and Bankruptcy Code (IBC) against M/s Manyata Reallty (respondent), a partnership firm, claiming a debt of Rs. 8,11,49,54,687/-. Manyata Reallty filed a writ petition challenging the maintainability of the Section 95 petition, arguing that it was not maintainable against a partnership firm and that the Registrar of the NCLT could not have entertained it. The Single Judge allowed the writ petition, declaring the e-filing of the Section 95 petition as non est and illegal. The appellant filed a writ appeal against the Single Judge's order. Manyata Reallty and Buoyant Technology had entered into joint development agreements between 2010 and 2015 covering 103 acres of
…The petitioner along with the land owners of…
The petitioner firm Manyata Pvt. Ltd. and…