The case involves two appeals, Company Appeal (AT) (Insolvency) No. 1063 of 2019 and Company Appeal (AT) (Insolvency) No. 1215 of 2019, which arise out of a common impugned order dated August 26, 2019, passed by the Adjudicating Authority (National Company Law Tribunal) Ahmedabad Bench, Ahmedabad in ‘CP(IB) No. 33 of 2017’. The appeals were clubbed together for hearing and disposal. The Appellants in both appeals are the ‘Resolution Applicants’ aggrieved by the order to liquidate the Corporate Debtor company 'Ardor Global Private Limited'. The appellants sought to annul the liquidation order and obtain further time for consideration of their resolution plans.
The Adjudicating Authority (National Company Law Tribunal) Ahmedabad Bench, Ahmedabad passed an order on August 26, 2019, in ‘CP(IB) No. 33 of 2017’, which led to the liquidation of 'Ardor Global Private Limited'. The Resolution Applicants, aggrieved by this order, filed two appeals: Company Appeal (AT) (Insolvency) No. 1063 of 2019 and Company Appeal (AT) (Insolvency) No. 1215 of 2019. The corporate insolvency resolution process period had expired, even after an extension of 90 days beyond the initial 180 days. The Resolution Applicants did not seek exclusion of any period while requesting an extension. The Corporate Insolvency Resolution Process was initiated against M/s Sai Infosystems (India) Ltd. (‘Corporate Debtor') on 30th November, 2017.
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The case involves two appeals, Company Appeal (AT) (Insolvency) No. 1063 of 2019 and Company Appeal (AT) (Insolvency) No. 1215 of 2019, which arise out of a common impugned order dated August 26, 2019, passed by the Adjudicating Authority (National Company Law Tribunal) Ahmedabad Bench, Ahmedabad in ‘CP(IB) No. 33 of 2017’. The appeals were clubbed together for hearing and disposal. The Appellants in both appeals are the ‘Resolution Applicants’ aggrieved by the order to liquidate the Corporate Debtor company 'Ardor Global Private Limited'. The appellants sought to annul the liquidation order and obtain further time for consideration of their resolution plans.
The Adjudicating Authority (National Company Law Tribunal) Ahmedabad Bench, Ahmedabad passed an order on August 26, 2019, in ‘CP(IB) No. 33 of 2017’, which led to the liquidation of 'Ardor Global Private Limited'. The Resolution Applicants, aggrieved by this order, filed two appeals: Company Appeal (AT) (Insolvency) No. 1063 of 2019 and Company Appeal (AT) (Insolvency) No. 1215 of 2019. The corporate insolvency resolution process period had expired, even after an extension of 90 days beyond the initial 180 days. The Resolution Applicants did not seek exclusion of any period while requesting an extension. The Corporate Insolvency Resolution Process was initiated against M/s Sai Infosystems (India) Ltd. (‘Corporate Debtor') on 30th November, 2017.
Both appeals arise out…
Order passed by the Adjudicating Authority…
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