The case pertains to Company Appeal (AT) (Insolvency) No. 565 of 2024 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The appeal involves Chirag Pitte, the Suspended Director of Shrivallabh Pittie Industries Ltd., as the Appellant, and State Bank of India through Manager & Anr. as the Respondents. The order concerns the non-deposition of 10% of the outstanding amount as per the previous order dated 21.03.2024, which was to be deposited by 30.04.2024.
Chirag Pitte, the Suspended Director of Shrivallabh Pittie Industries Ltd., filed an appeal against State Bank of India. The court had previously ordered on 21.03.2024 that 10% of the outstanding amount be deposited by 30.04.2024. However, the Appellant failed to deposit the amount by the deadline. Consequently, the court vacated the interim stay. The case is now listed for hearing on 30th May, 2024. The key fact is the non-compliance with the court's order regarding the deposit, leading to the vacation of the interim stay.
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The case pertains to Company Appeal (AT) (Insolvency) No. 565 of 2024 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The appeal involves Chirag Pitte, the Suspended Director of Shrivallabh Pittie Industries Ltd., as the Appellant, and State Bank of India through Manager & Anr. as the Respondents. The order concerns the non-deposition of 10% of the outstanding amount as per the previous order dated 21.03.2024, which was to be deposited by 30.04.2024.
Chirag Pitte, the Suspended Director of Shrivallabh Pittie Industries Ltd., filed an appeal against State Bank of India. The court had previously ordered on 21.03.2024 that 10% of the outstanding amount be deposited by 30.04.2024. However, the Appellant failed to deposit the amount by the deadline. Consequently, the court vacated the interim stay. The case is now listed for hearing on 30th May, 2024. The key fact is the non-compliance with the court's order regarding the deposit, leading to the vacation of the interim stay.
Court ordered 10% of…
Deadline for depositing…
Sign in to view related legal provisions.