The case involves an appeal against the order dated 6th June, 2017, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which admitted an application filed by Edelweiss Asset Reconstruction Company Limited ('Financial Creditor') under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('I&B Code') for initiation of 'Corporate Insolvency Resolution Process' against Bharti Defence and Infrastructure Limited ('Corporate Debtor'). The Adjudicating Authority declared a moratorium and appointed an Interim Resolution Professional.
Edelweiss Asset Reconstruction Company Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against Bharti Defence and Infrastructure Limited, the Corporate Debtor. The Adjudicating Authority admitted the application, declared a moratorium, and appointed an Interim Resolution Professional. The Corporate Debtor appealed, arguing that the Financial Creditor failed to provide adequate evidence of default as required by Section 7(3)(a) of the I&B Code. The Corporate Debtor also contended that the Insolvency and Bankruptcy Board of India (IBBI) had not framed regulations specifying the 'other record' or 'evidence of default' as contemplated under Clause
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The Adjudicating Authority (National Company Law…
The Appellate Tribunal issued a judgment in…
The case involves an appeal against the order dated 6th June, 2017, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which admitted an application filed by Edelweiss Asset Reconstruction Company Limited ('Financial Creditor') under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('I&B Code') for initiation of 'Corporate Insolvency Resolution Process' against Bharti Defence and Infrastructure Limited ('Corporate Debtor'). The Adjudicating Authority declared a moratorium and appointed an Interim Resolution Professional.
Edelweiss Asset Reconstruction Company Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against Bharti Defence and Infrastructure Limited, the Corporate Debtor. The Adjudicating Authority admitted the application, declared a moratorium, and appointed an Interim Resolution Professional. The Corporate Debtor appealed, arguing that the Financial Creditor failed to provide adequate evidence of default as required by Section 7(3)(a) of the I&B Code. The Corporate Debtor also contended that the Insolvency and Bankruptcy Board of India (IBBI) had not framed regulations specifying the 'other record' or 'evidence of default' as contemplated under Clause
…The Adjudicating Authority (National Company Law…
The Appellate Tribunal issued a judgment in…