The Appellant, S. Vasudevan, the Suspended Director of M/s. Tuscan Consultants and Developers Private Limited (Corporate Debtor), challenged the order dated 09.10.2023 passed by the Adjudicating Authority, NCLT Chennai, in CP/IB/81/CHE/2023, which admitted the application filed by Respondent No. 1, IDBI Trusteeship Services Limited, under Section 7 of the I&B Code, 2016.
S. Vasudevan, the Suspended Director of M/s. Tuscan Consultants and Developers Private Limited, appealed against the NCLT Chennai's order admitting the company into CIRP.
IDBI Trusteeship Services Limited filed an application under Section 7 of the I&B Code against Tuscan Consultants and Developers Private Limited.
Tuscan Consultants and Developers Private Limited acted as a corporate guarantor for Ozone Projects.
Ozone Projects defaulted on its obligations under a Debenture Trust Deed (DTD) executed on 29.06.2016.
IDBI Trusteeship Services Limited issued a demand notice on 13.12.2021 to Ozone Projects and the Corporate Debtor.
CIRP proceedings against Ozone Projects were initiated before NCLT Chennai on 01.05.2023.
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Respondent No.1…
Respondent No. 1 issued a Demand Notice to…
The Appellant, S. Vasudevan, the Suspended Director of M/s. Tuscan Consultants and Developers Private Limited (Corporate Debtor), challenged the order dated 09.10.2023 passed by the Adjudicating Authority, NCLT Chennai, in CP/IB/81/CHE/2023, which admitted the application filed by Respondent No. 1, IDBI Trusteeship Services Limited, under Section 7 of the I&B Code, 2016.
S. Vasudevan, the Suspended Director of M/s. Tuscan Consultants and Developers Private Limited, appealed against the NCLT Chennai's order admitting the company into CIRP.
IDBI Trusteeship Services Limited filed an application under Section 7 of the I&B Code against Tuscan Consultants and Developers Private Limited.
Tuscan Consultants and Developers Private Limited acted as a corporate guarantor for Ozone Projects.
Ozone Projects defaulted on its obligations under a Debenture Trust Deed (DTD) executed on 29.06.2016.
IDBI Trusteeship Services Limited issued a demand notice on 13.12.2021 to Ozone Projects and the Corporate Debtor.
CIRP proceedings against Ozone Projects were initiated before NCLT Chennai on 01.05.2023.
…Respondent No.1…
Respondent No. 1 issued a Demand Notice to…