The appeal was filed against the order dated 14.05.2024 by the National Company Law Tribunal, Allahabad Bench, Prayagraj, which admitted an application filed by Valplast Technologies Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Supercast Technologies Pvt. Ltd. for the resolution of an amount of Rs. 2,29,48,069.19/- and appointed Satyendra Sharma as the IRP.
An application was admitted by the NCLT Allahabad Bench against Supercast Technologies Pvt. Ltd. under Section 9 of the IBC.
The Appellant, a Suspended Director of Supercast Technologies Pvt. Ltd., filed an appeal.
The Tribunal did not consider emails/letters exchanged between the parties, arguing that the Appellant did not reply to the demand notice under Section 8 of the Code.
The Appellate Tribunal set aside the Impugned Order and allowed the appeal.
The main petition was restored and remanded back to the Learned Tribunal to be decided in accordance with law, after considering the emails/letters exchanged between the parties before 08.05.2023.
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Date of the order passed by the National…
Date on which Valplast Technologies Pvt. Ltd.…
The appeal was filed against the order dated 14.05.2024 by the National Company Law Tribunal, Allahabad Bench, Prayagraj, which admitted an application filed by Valplast Technologies Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Supercast Technologies Pvt. Ltd. for the resolution of an amount of Rs. 2,29,48,069.19/- and appointed Satyendra Sharma as the IRP.
An application was admitted by the NCLT Allahabad Bench against Supercast Technologies Pvt. Ltd. under Section 9 of the IBC.
The Appellant, a Suspended Director of Supercast Technologies Pvt. Ltd., filed an appeal.
The Tribunal did not consider emails/letters exchanged between the parties, arguing that the Appellant did not reply to the demand notice under Section 8 of the Code.
The Appellate Tribunal set aside the Impugned Order and allowed the appeal.
The main petition was restored and remanded back to the Learned Tribunal to be decided in accordance with law, after considering the emails/letters exchanged between the parties before 08.05.2023.
…Date of the order passed by the National…
Date on which Valplast Technologies Pvt. Ltd.…