The case involves two Company Appeals against an order dismissing Contempt Petitions. The Appellants claimed that the Respondents violated orders to include liabilities of the Corporate Debtor in the Information Memorandum. The original orders stemmed from IAs related to the Corporate Debtor's CIRP.
The Appellants claimed to have purchased units of immovable property from the Corporate Debtor under an agreement for sale.
The Sale Deed could not be executed due to a dispute between the Telangana State Housing Board and the Corporate Debtor.
The Appellants alleged that the Resolution Professional (Respondent No. 1) did not incorporate details of the units in the Information Memorandum.
The NCLT directed the Resolution Professional to include the liabilities of the Corporate Debtor towards the original buyer and Applicant in the Information Memorandum.
The Tribunal observed that the Respondent expressed liabilities in the Trial Balance Report of the Corporate Debtor under the head 'Advances from Customers'.
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The case involves two Company Appeals against an order dismissing Contempt Petitions. The Appellants claimed that the Respondents violated orders to include liabilities of the Corporate Debtor in the Information Memorandum. The original orders stemmed from IAs related to the Corporate Debtor's CIRP.
The Appellants claimed to have purchased units of immovable property from the Corporate Debtor under an agreement for sale.
The Sale Deed could not be executed due to a dispute between the Telangana State Housing Board and the Corporate Debtor.
The Appellants alleged that the Resolution Professional (Respondent No. 1) did not incorporate details of the units in the Information Memorandum.
The NCLT directed the Resolution Professional to include the liabilities of the Corporate Debtor towards the original buyer and Applicant in the Information Memorandum.
The Tribunal observed that the Respondent expressed liabilities in the Trial Balance Report of the Corporate Debtor under the head 'Advances from Customers'.
…Date of the impugned…
Date of the original…