The case arises from an appeal against an order dated 09.02.2024 passed by the National Company Law Tribunal (NCLT), Division Bench-1, Chennai. The appellant sought an interim stay of a sale notice dated 16.09.2023 issued by the 2nd respondent, concerning the corporate debtor's sole assets and the property of a guarantor, Mr. S. Srinivasan. The appellant also sought to quash the sale notice.
Ansio Industries Pvt Ltd, represented by its Director, filed an appeal against an order passed by the National Company Law Tribunal (NCLT), Chennai. The appeal concerned an application for an interim stay of a sale notice and to quash the sale notice, related to the assets of Venkat Ram Spinners Private Limited (the corporate debtor) and the property of Mr. S. Srinivasan (the guarantor). The NCLT had dismissed the application. The properties in question were mortgaged to Bank of Baroda, a secured financial creditor. An e-auction notice was issued on 16.09.2023, and a subsequent e-auction notice was issued on 15.02.2024. The e-auction took place on 20.03.2024, and the properties were sold to the highest bidder. The appellant did not challenge the subsequent e-auction
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Sale notice is…
Order passed by the 'Adjudicating Authority'/…
The case arises from an appeal against an order dated 09.02.2024 passed by the National Company Law Tribunal (NCLT), Division Bench-1, Chennai. The appellant sought an interim stay of a sale notice dated 16.09.2023 issued by the 2nd respondent, concerning the corporate debtor's sole assets and the property of a guarantor, Mr. S. Srinivasan. The appellant also sought to quash the sale notice.
Ansio Industries Pvt Ltd, represented by its Director, filed an appeal against an order passed by the National Company Law Tribunal (NCLT), Chennai. The appeal concerned an application for an interim stay of a sale notice and to quash the sale notice, related to the assets of Venkat Ram Spinners Private Limited (the corporate debtor) and the property of Mr. S. Srinivasan (the guarantor). The NCLT had dismissed the application. The properties in question were mortgaged to Bank of Baroda, a secured financial creditor. An e-auction notice was issued on 16.09.2023, and a subsequent e-auction notice was issued on 15.02.2024. The e-auction took place on 20.03.2024, and the properties were sold to the highest bidder. The appellant did not challenge the subsequent e-auction
…Sale notice is…
Order passed by the 'Adjudicating Authority'/…