This case involves an appeal against an order dated 2024-03-11 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench), which admitted a company petition filed by Canara Bank under Section 7 of the Insolvency and Bankruptcy Code for initiating Corporate Insolvency Resolution Process (CIRP) against VAS Infrastructure Ltd. The appellant, Brijesh Haridas Nagar Co-op. Hsg Soc. Ltd., filed an appeal along with an application seeking condonation of a 51-day delay in filing the appeal. The society claimed that the Corporate Debtor had mortgaged the land on which the residential flats have been constructed and are owned by the society.
The Adjudicating Authority (NCLT, Mumbai Bench) passed an order on 2024-03-11 admitting a company petition filed by Canara Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC) for initiating Corporate Insolvency Resolution Process (CIRP) against VAS Infrastructure Ltd. The default amount was Rs. 301,06,84,507.23/-. Ashok Kumar Golechha was appointed as the Interim Resolution Professional. Brijesh Haridas Nagar Co-op. Hsg Soc. Ltd. filed an appeal against this order, claiming a 51-day delay in filing. The society argued that the Corporate Debtor had mortgaged the land on which the residential flats were constructed and owned by the society. The society claimed they only became aware of the CIRP order on 2024-05-10 when Form G was published. The appeal was
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The appellant claimed…
This case involves an appeal against an order dated 2024-03-11 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench), which admitted a company petition filed by Canara Bank under Section 7 of the Insolvency and Bankruptcy Code for initiating Corporate Insolvency Resolution Process (CIRP) against VAS Infrastructure Ltd. The appellant, Brijesh Haridas Nagar Co-op. Hsg Soc. Ltd., filed an appeal along with an application seeking condonation of a 51-day delay in filing the appeal. The society claimed that the Corporate Debtor had mortgaged the land on which the residential flats have been constructed and are owned by the society.
The Adjudicating Authority (NCLT, Mumbai Bench) passed an order on 2024-03-11 admitting a company petition filed by Canara Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC) for initiating Corporate Insolvency Resolution Process (CIRP) against VAS Infrastructure Ltd. The default amount was Rs. 301,06,84,507.23/-. Ashok Kumar Golechha was appointed as the Interim Resolution Professional. Brijesh Haridas Nagar Co-op. Hsg Soc. Ltd. filed an appeal against this order, claiming a 51-day delay in filing. The society argued that the Corporate Debtor had mortgaged the land on which the residential flats were constructed and owned by the society. The society claimed they only became aware of the CIRP order on 2024-05-10 when Form G was published. The appeal was
…The Adjudicating Authority (NCLT, Mumbai…
The appellant claimed…