The case is an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning an insolvency matter. The appeal is against an order that was previously stayed, directing the IRP (Insolvency Resolution Professional) not to take further steps in the CIRP (Corporate Insolvency Resolution Process).
Bhavit Sheth filed an appeal against Madan Bajrang Lal Vaishnawa, the IRP of Sporta Technologies Pvt. Ltd. & Anr. The initial order, dated 14.02.2024, was stayed, which directed the IRP not to take further steps in the CIRP. The court clarified that the IRP, while restricted from taking steps in the CIRP, must ensure the company continues as a going concern. The case is listed for further hearing on 05.04.2024.
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Date of the order that was stayed, directing…
Mr. Arun Kathpalia, Sr.…
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The case is an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning an insolvency matter. The appeal is against an order that was previously stayed, directing the IRP (Insolvency Resolution Professional) not to take further steps in the CIRP (Corporate Insolvency Resolution Process).
Bhavit Sheth filed an appeal against Madan Bajrang Lal Vaishnawa, the IRP of Sporta Technologies Pvt. Ltd. & Anr. The initial order, dated 14.02.2024, was stayed, which directed the IRP not to take further steps in the CIRP. The court clarified that the IRP, while restricted from taking steps in the CIRP, must ensure the company continues as a going concern. The case is listed for further hearing on 05.04.2024.
Date of the order that was stayed, directing…
Mr. Arun Kathpalia, Sr.…
Sign in to view related legal provisions.