The case involves an appeal filed by the Suspended Director of the Corporate Debtor against an order passed by the Adjudicating Authority (National Company Law Tribunal) regarding an application filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by a Financial Creditor for the resolution of their debt. The application was admitted, an Interim Resolution Professional (IRP) was appointed, and a moratorium was imposed. During the appeal's pendency, the appellant filed an I.A. seeking permission for unsecured financial creditors (allottees of the Avalon Regal Court Project) and a secured financial creditor (Tata Capital Housing Financial Limited) to vote on a Project Completion Proposal.
The Suspended Director of the Corporate Debtor filed an appeal against the Adjudicating Authority's order admitting an application under Section 7 of the IBC. The application was filed by Devinder Yadav & Ors. (Financial Creditor) for resolution of debt. Gaurav Kataria was appointed as the IRP, and a moratorium was imposed. The appellant impleaded Gaurav Kataria, Homebuyers, and Tata Capital Housing Finance Ltd. as respondents. During the appeal, the appellant filed an I.A. seeking permission for unsecured financial creditors (allottees of the Avalon Regal Court Project) and Tata Capital Housing Financial Limited to vote on a Project Completion Proposal. The creditors voted with 100% majority in favor of the resolution plan submitted by Ajay Singal. The court
…Sign in to view the parties.
Order passed by Adjudicating Authority…
Court passed an order…
Sign in to view related legal provisions.
The case involves an appeal filed by the Suspended Director of the Corporate Debtor against an order passed by the Adjudicating Authority (National Company Law Tribunal) regarding an application filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by a Financial Creditor for the resolution of their debt. The application was admitted, an Interim Resolution Professional (IRP) was appointed, and a moratorium was imposed. During the appeal's pendency, the appellant filed an I.A. seeking permission for unsecured financial creditors (allottees of the Avalon Regal Court Project) and a secured financial creditor (Tata Capital Housing Financial Limited) to vote on a Project Completion Proposal.
The Suspended Director of the Corporate Debtor filed an appeal against the Adjudicating Authority's order admitting an application under Section 7 of the IBC. The application was filed by Devinder Yadav & Ors. (Financial Creditor) for resolution of debt. Gaurav Kataria was appointed as the IRP, and a moratorium was imposed. The appellant impleaded Gaurav Kataria, Homebuyers, and Tata Capital Housing Finance Ltd. as respondents. During the appeal, the appellant filed an I.A. seeking permission for unsecured financial creditors (allottees of the Avalon Regal Court Project) and Tata Capital Housing Financial Limited to vote on a Project Completion Proposal. The creditors voted with 100% majority in favor of the resolution plan submitted by Ajay Singal. The court
…Order passed by Adjudicating Authority…
Court passed an order…
Sign in to view related legal provisions.