This case involves an appeal against orders passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Court-IV) in IB-2691/(ND)/2019. The Adjudicating Authority had directed the IBBI not to initiate any enquiry until further orders regarding the IRP's appointment. The Corporate Debtor, Adjoin Built & Developers Pvt. Ltd., is undergoing CIRP. The Adjudicating Authority had admitted the CIRP of the Corporate Debtor based on an application by M/s Laxmi Steels and appointed Respondent No. 1 as the IRP. However, the IRP did not take charge, leading to an application by the Operational Creditor to change the IRP. The Adjudicating Authority referred the matter to the Appellant Board (NCLAT) for enquiry. Subsequently, the Adjudicating Authority
…The Insolvency and Bankruptcy Board of India (IBBI) filed an appeal against orders passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Court-IV) concerning the Corporate Insolvency Resolution Process (CIRP) of Adjoin Built & Developers Pvt. Ltd. M/s Laxmi Steels, an Operational Creditor, initiated the CIRP, and Respondent No. 1 was appointed as the Interim Resolution Professional (IRP). However, the IRP did not take charge of the Corporate Debtor. The Adjudicating Authority, on 06.07.2021, referred the matter to IBBI for enquiry regarding the IRP's conduct. Subsequently, on 29.07.2021, the Adjudicating Authority directed IBBI not to initiate any enquiry until further orders. The Appellant Board (IBBI) challenged these orders, arguing that
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The Adjudicating Authority admitted the CIRP of…
The Adjudicating Authority referred the matter…
This case involves an appeal against orders passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Court-IV) in IB-2691/(ND)/2019. The Adjudicating Authority had directed the IBBI not to initiate any enquiry until further orders regarding the IRP's appointment. The Corporate Debtor, Adjoin Built & Developers Pvt. Ltd., is undergoing CIRP. The Adjudicating Authority had admitted the CIRP of the Corporate Debtor based on an application by M/s Laxmi Steels and appointed Respondent No. 1 as the IRP. However, the IRP did not take charge, leading to an application by the Operational Creditor to change the IRP. The Adjudicating Authority referred the matter to the Appellant Board (NCLAT) for enquiry. Subsequently, the Adjudicating Authority
…The Insolvency and Bankruptcy Board of India (IBBI) filed an appeal against orders passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Court-IV) concerning the Corporate Insolvency Resolution Process (CIRP) of Adjoin Built & Developers Pvt. Ltd. M/s Laxmi Steels, an Operational Creditor, initiated the CIRP, and Respondent No. 1 was appointed as the Interim Resolution Professional (IRP). However, the IRP did not take charge of the Corporate Debtor. The Adjudicating Authority, on 06.07.2021, referred the matter to IBBI for enquiry regarding the IRP's conduct. Subsequently, on 29.07.2021, the Adjudicating Authority directed IBBI not to initiate any enquiry until further orders. The Appellant Board (IBBI) challenged these orders, arguing that
…The Adjudicating Authority admitted the CIRP of…
The Adjudicating Authority referred the matter…