The appeal was filed by Aliasgar Chadarwala, Director of AHZ Interior Pvt. Ltd., against an order dated December 10, 2018, by the Adjudicating Authority (National Company Law Tribunal), Mumbai bench, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) preferred by Asona India Pvt. Ltd. (Operational Creditor). The Appellant submitted that there was only one creditor, Asona India Pvt. Ltd., and that the Appellant had settled the matter with the Operational Creditor on February 28, 2018, and paid the amount.
Aliasgar Chadarwala, Director of AHZ Interior Pvt. Ltd., filed an appeal against the order of the Adjudicating Authority (NCLT, Mumbai) which admitted an application under Section 9 of the IBC filed by Asona India Pvt. Ltd. (Operational Creditor). The Appellant contended that the matter had been settled with the Operational Creditor on February 28, 2018, and the amount was paid. The Operational Creditor agreed to withdraw the petition after receiving the settlement amount. The Resolution Professional received only one claim from the Operational Creditor. The parties had settled the claim, and a sum of Rs.3,50,000/- was paid to the Resolution Professional towards fees and resolution costs. The Operational Creditor intended to withdraw the application under Section 9.
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The Adjudicating Authority (National Company…
Aliasgar Chadarwala…
The appeal was filed by Aliasgar Chadarwala, Director of AHZ Interior Pvt. Ltd., against an order dated December 10, 2018, by the Adjudicating Authority (National Company Law Tribunal), Mumbai bench, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) preferred by Asona India Pvt. Ltd. (Operational Creditor). The Appellant submitted that there was only one creditor, Asona India Pvt. Ltd., and that the Appellant had settled the matter with the Operational Creditor on February 28, 2018, and paid the amount.
Aliasgar Chadarwala, Director of AHZ Interior Pvt. Ltd., filed an appeal against the order of the Adjudicating Authority (NCLT, Mumbai) which admitted an application under Section 9 of the IBC filed by Asona India Pvt. Ltd. (Operational Creditor). The Appellant contended that the matter had been settled with the Operational Creditor on February 28, 2018, and the amount was paid. The Operational Creditor agreed to withdraw the petition after receiving the settlement amount. The Resolution Professional received only one claim from the Operational Creditor. The parties had settled the claim, and a sum of Rs.3,50,000/- was paid to the Resolution Professional towards fees and resolution costs. The Operational Creditor intended to withdraw the application under Section 9.
…The Adjudicating Authority (National Company…
Aliasgar Chadarwala…