The 'Appellant' / `Promoter' of the 'Corporate Debtor' ('M/s. GBJ Hotels Pvt. Ltd.') filed an appeal against the order dated 19.04.2022 passed by the 'Adjudicating Authority' ('National Company Law Tribunal', Division Bench – I, Chennai), which admitted the application filed by the `1st Respondent / Bank / Financial Creditor / Petitioner' under Section 7 of the I & B Code, 2016.
The Corporate Debtor admitted its liability based on the OTS 18.12.2021.
The Loan Account of the Corporate Debtor was declared NPA on 01/06/2019.
The Financial Creditor filed an application under Section 7 of IBC, 2016 before the Tribunal on 27/10/2021.
The Financial Creditor had requested the Corporate Debtor to increase the OTS amount.
The Corporate Debtor was banking solely with the Financial Creditor.
The main CP (IB) / 279 / IB / 2021, filed by the 1st Respondent / Bank', is `barred by time', because the initiation date was only 18.11.2021.
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Order passed by the `Adjudicating Authority'…
The Loan Accoun…
The 'Appellant' / `Promoter' of the 'Corporate Debtor' ('M/s. GBJ Hotels Pvt. Ltd.') filed an appeal against the order dated 19.04.2022 passed by the 'Adjudicating Authority' ('National Company Law Tribunal', Division Bench – I, Chennai), which admitted the application filed by the `1st Respondent / Bank / Financial Creditor / Petitioner' under Section 7 of the I & B Code, 2016.
The Corporate Debtor admitted its liability based on the OTS 18.12.2021.
The Loan Account of the Corporate Debtor was declared NPA on 01/06/2019.
The Financial Creditor filed an application under Section 7 of IBC, 2016 before the Tribunal on 27/10/2021.
The Financial Creditor had requested the Corporate Debtor to increase the OTS amount.
The Corporate Debtor was banking solely with the Financial Creditor.
The main CP (IB) / 279 / IB / 2021, filed by the 1st Respondent / Bank', is `barred by time', because the initiation date was only 18.11.2021.
…Order passed by the `Adjudicating Authority'…
The Loan Accoun…