The appeal was preferred against an order dated March 15, 2021, passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench-IV, which admitted the application of the Respondent Financial Creditor under Section 7 of the I&B Code. The Corporate Debtor and the Financial Creditor reached a settlement, and the Corporate Debtor filed an application for withdrawal of the Section 7 application. However, there was a delay in listing the matter due to the Adjudicating Authority being inaccessible due to holidays. The impugned order was uploaded after the Financial Creditor had filed the application for withdrawal.
Bhavesh Gandhi, representing Skil Infrastructure Ltd. as the Appellant, appealed against an order admitting an application by Amluckie Investment Co. Ltd. & Ors., the Respondent, under Section 7 of the I&B Code. The Corporate Debtor, Skil Infrastructure Ltd., reached a settlement with the Financial Creditor, Amluckie Investment Co. Ltd. The terms of the settlement required the Corporate Debtor to pay Rs.4.40 Crores to the Financial Creditor in installments, with Rs.50 Lakhs already paid and post-dated cheques issued for the balance. The appeal was filed because the order admitting the application was uploaded after the Financial Creditor had already applied for withdrawal based on the settlement. The court noted that the public announcement had not been made
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The appeal was preferred against an order dated March 15, 2021, passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench-IV, which admitted the application of the Respondent Financial Creditor under Section 7 of the I&B Code. The Corporate Debtor and the Financial Creditor reached a settlement, and the Corporate Debtor filed an application for withdrawal of the Section 7 application. However, there was a delay in listing the matter due to the Adjudicating Authority being inaccessible due to holidays. The impugned order was uploaded after the Financial Creditor had filed the application for withdrawal.
Bhavesh Gandhi, representing Skil Infrastructure Ltd. as the Appellant, appealed against an order admitting an application by Amluckie Investment Co. Ltd. & Ors., the Respondent, under Section 7 of the I&B Code. The Corporate Debtor, Skil Infrastructure Ltd., reached a settlement with the Financial Creditor, Amluckie Investment Co. Ltd. The terms of the settlement required the Corporate Debtor to pay Rs.4.40 Crores to the Financial Creditor in installments, with Rs.50 Lakhs already paid and post-dated cheques issued for the balance. The appeal was filed because the order admitting the application was uploaded after the Financial Creditor had already applied for withdrawal based on the settlement. The court noted that the public announcement had not been made
…The Adjudicating Authority (National Company…
The Corporate Debtor…
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