Gursimran Singh, Director of M/s Downtown Temptations Pvt. Ltd. (Corporate Debtor), filed an appeal against the order dated 28th September 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata bench, Kolkata. The Adjudicating Authority had admitted an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) preferred by Indiabulls Housing Finance Ltd. (Financial Creditor).
Gursimran Singh, Director of M/s Downtown Temptations Pvt. Ltd., filed an appeal against an order passed by the Adjudicating Authority (NCLT), Kolkata, on September 28, 2018. The NCLT had admitted an application under Section 7 of the IBC filed by Indiabulls Housing Finance Ltd., the Financial Creditor. The appellant argued that no notice was served to the Corporate Debtor by the Adjudicating Authority. The appellant further submitted that a settlement had been reached between the parties, evidenced by a Settlement Letter dated November 28, 2018, and part payment had been made. The Financial Creditor claimed that notice for admission was served upon the Corporate Debtor and filed an affidavit of service. The NCLAT found that no notice was issued to the Corporate Debtor
…Sign in to view the parties.
The Adjudicating Authority (National Company…
Parties entered into a settlement by…
Gursimran Singh, Director of M/s Downtown Temptations Pvt. Ltd. (Corporate Debtor), filed an appeal against the order dated 28th September 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata bench, Kolkata. The Adjudicating Authority had admitted an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) preferred by Indiabulls Housing Finance Ltd. (Financial Creditor).
Gursimran Singh, Director of M/s Downtown Temptations Pvt. Ltd., filed an appeal against an order passed by the Adjudicating Authority (NCLT), Kolkata, on September 28, 2018. The NCLT had admitted an application under Section 7 of the IBC filed by Indiabulls Housing Finance Ltd., the Financial Creditor. The appellant argued that no notice was served to the Corporate Debtor by the Adjudicating Authority. The appellant further submitted that a settlement had been reached between the parties, evidenced by a Settlement Letter dated November 28, 2018, and part payment had been made. The Financial Creditor claimed that notice for admission was served upon the Corporate Debtor and filed an affidavit of service. The NCLAT found that no notice was issued to the Corporate Debtor
…The Adjudicating Authority (National Company…
Parties entered into a settlement by…