This case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, which admitted an application preferred by the Respondent, Nuvoco Vistas Corporation Ltd., under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('I&B Code'). The appeal was filed by a Shareholder and Ex-Director of M/s Soho Infrastructure Pvt. Ltd., the Corporate Debtor. The appellant contended that no demand notice under Section 8(1) of the I&B Code was served on the Corporate Debtor. The Adjudicating Authority admitted the application despite this fact.
M/s Soho Infrastructure Pvt. Ltd. is the Corporate Debtor. Nuvoco Vistas Corporation Ltd. is the Operational Creditor. The Adjudicating Authority (National Company Law Tribunal), New Delhi, admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by the Operational Creditor. A Shareholder and Ex-Director of the Corporate Debtor filed an appeal against this order. The Appellant claimed that no demand notice under Section 8(1) of the I&B Code was served on the Corporate Debtor. The Adjudicating Authority admitted the application despite the lack of service. The parties negotiated a settlement, and the Appellant paid the amount due to the Respondent. The payment was made by draft dated 27th August, 2018. The key fact is that the
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Learned counsel for the Appellant submitted…
This case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, which admitted an application preferred by the Respondent, Nuvoco Vistas Corporation Ltd., under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('I&B Code'). The appeal was filed by a Shareholder and Ex-Director of M/s Soho Infrastructure Pvt. Ltd., the Corporate Debtor. The appellant contended that no demand notice under Section 8(1) of the I&B Code was served on the Corporate Debtor. The Adjudicating Authority admitted the application despite this fact.
M/s Soho Infrastructure Pvt. Ltd. is the Corporate Debtor. Nuvoco Vistas Corporation Ltd. is the Operational Creditor. The Adjudicating Authority (National Company Law Tribunal), New Delhi, admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by the Operational Creditor. A Shareholder and Ex-Director of the Corporate Debtor filed an appeal against this order. The Appellant claimed that no demand notice under Section 8(1) of the I&B Code was served on the Corporate Debtor. The Adjudicating Authority admitted the application despite the lack of service. The parties negotiated a settlement, and the Appellant paid the amount due to the Respondent. The payment was made by draft dated 27th August, 2018. The key fact is that the
…The Adjudicating Authority (National Company…
Learned counsel for the Appellant submitted…