The case involves an appeal against the initiation of the Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor. The Adjudicating Authority had initiated the CIRP process based on an application under Section 7 by the allottees of the Fernhill project in Gurgaon, Haryana. The Appellants, who are allottees in two projects in Lucknow, Uttar Pradesh, argue that the CIRP should be confined to the Fernhill project only and not include projects in other states.
The Adjudicating Authority initiated the CIRP against a Corporate Debtor based on an application under Section 7 by the allottees of the Fernhill project in Gurgaon, Haryana. The Appellants, who are allottees in two projects in Lucknow, Uttar Pradesh, filed an appeal. The Appellants contend that the CIRP should be confined to the Fernhill project only and not include projects in other states. The Corporate Debtor has several projects. The Applicant allottees are only concerned with the Fernhill project. The court issued a notice to the respondents and listed the appeal for further hearing.
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Learned counsel for the Appellant submits…
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The case involves an appeal against the initiation of the Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor. The Adjudicating Authority had initiated the CIRP process based on an application under Section 7 by the allottees of the Fernhill project in Gurgaon, Haryana. The Appellants, who are allottees in two projects in Lucknow, Uttar Pradesh, argue that the CIRP should be confined to the Fernhill project only and not include projects in other states.
The Adjudicating Authority initiated the CIRP against a Corporate Debtor based on an application under Section 7 by the allottees of the Fernhill project in Gurgaon, Haryana. The Appellants, who are allottees in two projects in Lucknow, Uttar Pradesh, filed an appeal. The Appellants contend that the CIRP should be confined to the Fernhill project only and not include projects in other states. The Corporate Debtor has several projects. The Applicant allottees are only concerned with the Fernhill project. The court issued a notice to the respondents and listed the appeal for further hearing.
Learned counsel for the Appellant submits…
Appeal list…
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