This case involves a challenge to the National Company Law Tribunal (NCLT) order dated 26.03.2026, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Prince Foundation Ltd. The Appellant, Ashwinkumar Kantilal Kamdar, a suspended director of Prince Foundation Ltd., contests the admission. The Respondent, Malco Gems & Anr., had previously filed a similar Section 7 application but withdrew it on 03.03.2023 after failing to provide requested documents by an NCLT order dated 17.02.2023. A fresh Section 7 application was initiated by the Respondent.
An application under Section 7 of the I & B Code, 2016, was admitted against Prince Foundation Ltd. by the Ld. NCLT on 26.03.2026.
Ashwinkumar Kantilal Kamdar, suspended director of Prince Foundation Ltd., challenged the NCLT's order.
In earlier proceedings, the Ld. Tribunal on 17.02.2023 directed the Respondent to provide certain documents for a Section 7 application.
The Respondent did not supply the requested documents and subsequently withdrew those proceedings on 03.03.2023.
A fresh Section 7 application was initiated by the Respondent based on similar facts, with the Appellant disputing the claim's justification as financial assistance.
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The Ld. Tribunal ordered the Respondent to…
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This case involves a challenge to the National Company Law Tribunal (NCLT) order dated 26.03.2026, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Prince Foundation Ltd. The Appellant, Ashwinkumar Kantilal Kamdar, a suspended director of Prince Foundation Ltd., contests the admission. The Respondent, Malco Gems & Anr., had previously filed a similar Section 7 application but withdrew it on 03.03.2023 after failing to provide requested documents by an NCLT order dated 17.02.2023. A fresh Section 7 application was initiated by the Respondent.
An application under Section 7 of the I & B Code, 2016, was admitted against Prince Foundation Ltd. by the Ld. NCLT on 26.03.2026.
Ashwinkumar Kantilal Kamdar, suspended director of Prince Foundation Ltd., challenged the NCLT's order.
In earlier proceedings, the Ld. Tribunal on 17.02.2023 directed the Respondent to provide certain documents for a Section 7 application.
The Respondent did not supply the requested documents and subsequently withdrew those proceedings on 03.03.2023.
A fresh Section 7 application was initiated by the Respondent based on similar facts, with the Appellant disputing the claim's justification as financial assistance.
…The Ld. Tribunal ordered the Respondent to…
The Respondent/Applicant chose to withdraw the…
Sign in to view related legal provisions.