The case involves an appeal against an order dated November 6, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. The initial application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) by SREI Equipment Finance Limited (‘Financial Creditor’) against Shree Ram Urban Infrastructure Limited (‘Corporate Debtor’). Action Barter Private Limited, a shareholder, challenged the application, citing a previously admitted winding-up petition against Shree Ram Urban Infrastructure Ltd. by the High Court of Bombay in October 2016, with an Official Liquidator appointed in November 2017. The appellant argued that the Section 7 application was not maintainable due to the pending winding-up petition.
Action Barter Private Limited, a shareholder, appealed against the admission of a Section 7 application under the Insolvency and Bankruptcy Code (I&B Code) filed by SREI Equipment Finance Limited against Shree Ram Urban Infrastructure Limited. A winding-up petition against Shree Ram Urban Infrastructure Ltd. had already been admitted by the High Court of Bombay in October 2016, with an Official Liquidator appointed in November 2017. The appellant argued that the Section 7 application was not maintainable due to the existing winding-up petition. The Provisional Liquidator had taken over the assets and properties of Shree Ram Urban Infrastructure Ltd. on April 17, 2018. An application under Section 7 of the I&B Code filed by Indiabulls Housing Finance Limited was
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Winding-up petition against Shree Ram Urban…
Official Liquidator…
The case involves an appeal against an order dated November 6, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. The initial application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) by SREI Equipment Finance Limited (‘Financial Creditor’) against Shree Ram Urban Infrastructure Limited (‘Corporate Debtor’). Action Barter Private Limited, a shareholder, challenged the application, citing a previously admitted winding-up petition against Shree Ram Urban Infrastructure Ltd. by the High Court of Bombay in October 2016, with an Official Liquidator appointed in November 2017. The appellant argued that the Section 7 application was not maintainable due to the pending winding-up petition.
Action Barter Private Limited, a shareholder, appealed against the admission of a Section 7 application under the Insolvency and Bankruptcy Code (I&B Code) filed by SREI Equipment Finance Limited against Shree Ram Urban Infrastructure Limited. A winding-up petition against Shree Ram Urban Infrastructure Ltd. had already been admitted by the High Court of Bombay in October 2016, with an Official Liquidator appointed in November 2017. The appellant argued that the Section 7 application was not maintainable due to the existing winding-up petition. The Provisional Liquidator had taken over the assets and properties of Shree Ram Urban Infrastructure Ltd. on April 17, 2018. An application under Section 7 of the I&B Code filed by Indiabulls Housing Finance Limited was
…Winding-up petition against Shree Ram Urban…
Official Liquidator…