The case involves an appeal against the initiation of Corporate Insolvency Resolution Process (CIRP) against Lumiford Private Ltd. The appellant, Abhijit Bhattacharjee, is the suspended director of the corporate debtor. The appellant approached the Hon'ble Apex Court, claiming adjournments and lack of progress in the matter. The Apex Court directed the Tribunal to consider the appellant's application for a stay. The respondents opposed the stay application, citing non-service of the application. The Tribunal considered the arguments and the grounds for interim application.
Abhijit Bhattacharjee, the suspended director of Lumiford Private Ltd. (the Corporate Debtor), filed an appeal against the initiation of CIRP. The appellant claimed that there were 8 adjournments in the matter and that the Tribunal had not taken up the matter. The Hon'ble Apex Court directed the Tribunal to consider the appellant's application for a stay. The appellant then filed IA No. 1047/2024 for a stay. The respondents, M/s. COSR Ventures & Anr., opposed the stay application, arguing that the copy of the stay application had not been served upon them and citing a consistent betrayal by the appellant of the agreements. The Tribunal considered the arguments regarding the existence of an operational debt and a pre-existing dispute. The Tribunal noted that the
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The case involves an appeal against the initiation of Corporate Insolvency Resolution Process (CIRP) against Lumiford Private Ltd. The appellant, Abhijit Bhattacharjee, is the suspended director of the corporate debtor. The appellant approached the Hon'ble Apex Court, claiming adjournments and lack of progress in the matter. The Apex Court directed the Tribunal to consider the appellant's application for a stay. The respondents opposed the stay application, citing non-service of the application. The Tribunal considered the arguments and the grounds for interim application.
Abhijit Bhattacharjee, the suspended director of Lumiford Private Ltd. (the Corporate Debtor), filed an appeal against the initiation of CIRP. The appellant claimed that there were 8 adjournments in the matter and that the Tribunal had not taken up the matter. The Hon'ble Apex Court directed the Tribunal to consider the appellant's application for a stay. The appellant then filed IA No. 1047/2024 for a stay. The respondents, M/s. COSR Ventures & Anr., opposed the stay application, arguing that the copy of the stay application had not been served upon them and citing a consistent betrayal by the appellant of the agreements. The Tribunal considered the arguments regarding the existence of an operational debt and a pre-existing dispute. The Tribunal noted that the
…The matter has been…
The Hon'ble Apex Court directed the Tribunal to…
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