The appeal was filed by Anand Rai, a shareholder of M/s Quickdel Logistics Pvt. Ltd, challenging an order dated January 7, 2019, by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh. The Adjudicating Authority had admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Walsons Services Private Limited, an operational creditor. The order also imposed a moratorium.
Anand Rai, a shareholder of Quickdel Logistics Pvt. Ltd, filed an appeal against the order of the Adjudicating Authority (NCLT), Chandigarh, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Walsons Services Private Limited (Operational Creditor). The Adjudicating Authority's order, dated January 7, 2019, initiated a moratorium. The parties reached a settlement on January 18, 2019, before the Committee of Creditors was constituted. Cheques were issued by HDFC Bank to the Operational Creditor, and the receipt showing payment of Rs. 18,12,643/- was enclosed. The Resolution Professional acknowledged that the Committee of Creditors was not constituted until January 28, 2019. The court noted that the parties had reached a
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The Adjudicating Authority (National Company Law…
The parties reached a settlement prior to the…
The appeal was filed by Anand Rai, a shareholder of M/s Quickdel Logistics Pvt. Ltd, challenging an order dated January 7, 2019, by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh. The Adjudicating Authority had admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Walsons Services Private Limited, an operational creditor. The order also imposed a moratorium.
Anand Rai, a shareholder of Quickdel Logistics Pvt. Ltd, filed an appeal against the order of the Adjudicating Authority (NCLT), Chandigarh, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Walsons Services Private Limited (Operational Creditor). The Adjudicating Authority's order, dated January 7, 2019, initiated a moratorium. The parties reached a settlement on January 18, 2019, before the Committee of Creditors was constituted. Cheques were issued by HDFC Bank to the Operational Creditor, and the receipt showing payment of Rs. 18,12,643/- was enclosed. The Resolution Professional acknowledged that the Committee of Creditors was not constituted until January 28, 2019. The court noted that the parties had reached a
…The Adjudicating Authority (National Company Law…
The parties reached a settlement prior to the…