The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal) admitting an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The appellant, a shareholder and corporate debtor, challenged the order, arguing that the Adjudicating Authority failed to consider the contract between the parties and the absence of default in payment of debt. The parties had already settled the claim, and the Interim Resolution Professional (IRP) confirmed that the resolution cost and fee had been paid.
Arjun Puri, the appellant and shareholder (Corporate Debtor), challenged an order dated January 10, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi. The order admitted an application filed by Kunal Prasad, the respondent, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The appellant argued that the Adjudicating Authority failed to consider the contract between the parties and the absence of default in payment of debt. The parties had already settled the claim. The Interim Resolution Professional (IRP) confirmed that the resolution cost and fee had been paid. An advertisement was issued asking for claims, but the Committee of Creditors (CoC) had not been constituted. The respondent wanted to withdraw
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The Adjudicating Authority (National Company…
The appellant, Arjun Puri, challenged the…
The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal) admitting an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The appellant, a shareholder and corporate debtor, challenged the order, arguing that the Adjudicating Authority failed to consider the contract between the parties and the absence of default in payment of debt. The parties had already settled the claim, and the Interim Resolution Professional (IRP) confirmed that the resolution cost and fee had been paid.
Arjun Puri, the appellant and shareholder (Corporate Debtor), challenged an order dated January 10, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi. The order admitted an application filed by Kunal Prasad, the respondent, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The appellant argued that the Adjudicating Authority failed to consider the contract between the parties and the absence of default in payment of debt. The parties had already settled the claim. The Interim Resolution Professional (IRP) confirmed that the resolution cost and fee had been paid. An advertisement was issued asking for claims, but the Committee of Creditors (CoC) had not been constituted. The respondent wanted to withdraw
…The Adjudicating Authority (National Company…
The appellant, Arjun Puri, challenged the…