The appeal arises from an order dated 2024-06-12 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench-II) in I.A. No. 3602/2022 in C.P. No. 50(PB) of 2021. The Adjudicating Authority allowed I.A. No. 3602 of 2022 under Section 65 of IBC, terminating the Corporate Insolvency Resolution Proceedings (CIRP) initiated against the Corporate Debtor. The CIRP was initiated on 2022-05-17 based on Section 7 proceedings filed by Acute Daily Media Pvt. Ltd. and other financial creditors against Sharp Eye Advertising Pvt. Ltd. The Appellants had purportedly advanced loans to the Corporate Debtor, which the Corporate Debtor defaulted on. Respondent No.1-Rockman Advertising moved an application under Section 65 of the IBC seeking termination of the
…Acute Daily Media Pvt. Ltd. and others (Appellants) filed an appeal against an order passed by the Adjudicating Authority (NCLT, New Delhi Bench-II). The NCLT had allowed an application under Section 65 of the Insolvency and Bankruptcy Code (IBC), terminating the Corporate Insolvency Resolution Proceedings (CIRP) against Sharp Eye Advertising Pvt. Ltd. (Corporate Debtor). The CIRP was initiated based on a Section 7 application filed by the Appellants, claiming to be financial creditors. The Appellants claimed to have advanced loans to the Corporate Debtor, which were defaulted upon. Rockman Advertising and Marketing (India) Ltd. (Respondent No. 1) filed an application under Section 65, alleging that the Section 7 application was filed collusively and fraudulently with
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Mention of C.P. No.…
CIRP was initiated…
The appeal arises from an order dated 2024-06-12 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench-II) in I.A. No. 3602/2022 in C.P. No. 50(PB) of 2021. The Adjudicating Authority allowed I.A. No. 3602 of 2022 under Section 65 of IBC, terminating the Corporate Insolvency Resolution Proceedings (CIRP) initiated against the Corporate Debtor. The CIRP was initiated on 2022-05-17 based on Section 7 proceedings filed by Acute Daily Media Pvt. Ltd. and other financial creditors against Sharp Eye Advertising Pvt. Ltd. The Appellants had purportedly advanced loans to the Corporate Debtor, which the Corporate Debtor defaulted on. Respondent No.1-Rockman Advertising moved an application under Section 65 of the IBC seeking termination of the
…Acute Daily Media Pvt. Ltd. and others (Appellants) filed an appeal against an order passed by the Adjudicating Authority (NCLT, New Delhi Bench-II). The NCLT had allowed an application under Section 65 of the Insolvency and Bankruptcy Code (IBC), terminating the Corporate Insolvency Resolution Proceedings (CIRP) against Sharp Eye Advertising Pvt. Ltd. (Corporate Debtor). The CIRP was initiated based on a Section 7 application filed by the Appellants, claiming to be financial creditors. The Appellants claimed to have advanced loans to the Corporate Debtor, which were defaulted upon. Rockman Advertising and Marketing (India) Ltd. (Respondent No. 1) filed an application under Section 65, alleging that the Section 7 application was filed collusively and fraudulently with
…Mention of C.P. No.…
CIRP was initiated…