The appeal was filed against the order dated 29.01.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) in I.A. No. 1125 of 2020 in C.P. No. 2556/MB/2019, which allowed an application filed under Section 66 r/w Section 26 of the Insolvency & Bankruptcy Code, 2016.
Raksha Bullion filed an application under Section 9 of the I&B Code against Royal Refinery Pvt. Ltd. due to a default of Rs. 4,90,01,183.
CIRP was initiated against Royal Refinery Pvt. Ltd. on 13.11.2019, and Mr. Nandkishor Vishnupant Deshpande was appointed as Interim Resolution Professional.
The Adjudicating Authority ordered the liquidation of Royal Refinery Pvt. Ltd. on 16.04.2021.
Shri Baiju Trading and Investment Private Limited, the appellant, is engaged in the business of Non-Banking Financial Services and took a loan/financial assistance from the Corporate Debtor.
The appellant allegedly owes Rs. 41.03 crores to the Corporate Debtor, which was written off.
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Order passed by the Adjudicating…
Corporate Insolvency…
The appeal was filed against the order dated 29.01.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) in I.A. No. 1125 of 2020 in C.P. No. 2556/MB/2019, which allowed an application filed under Section 66 r/w Section 26 of the Insolvency & Bankruptcy Code, 2016.
Raksha Bullion filed an application under Section 9 of the I&B Code against Royal Refinery Pvt. Ltd. due to a default of Rs. 4,90,01,183.
CIRP was initiated against Royal Refinery Pvt. Ltd. on 13.11.2019, and Mr. Nandkishor Vishnupant Deshpande was appointed as Interim Resolution Professional.
The Adjudicating Authority ordered the liquidation of Royal Refinery Pvt. Ltd. on 16.04.2021.
Shri Baiju Trading and Investment Private Limited, the appellant, is engaged in the business of Non-Banking Financial Services and took a loan/financial assistance from the Corporate Debtor.
The appellant allegedly owes Rs. 41.03 crores to the Corporate Debtor, which was written off.
…Order passed by the Adjudicating…
Corporate Insolvency…