This appeal arises from an order dated 2024-01-23 by the National Company Law Tribunal (NCLT), New Delhi, dismissing an application filed by IIFL Home Finance Ltd. The application sought a direction to the Resolution Professional to acknowledge or admit their claim and create a chart regarding flats developed by the Corporate Debtor, Saha Infratech Pvt. Ltd. The NCLT had initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor following a Section 7 application under the Insolvency and Bankruptcy Code (IBC), 2016.
IIFL Home Finance Ltd. provided loans to flat buyers, including Mr. Vikas Pandhi and Mr. Vinod Kumar, for purchasing flats in a project developed by Saha Infratech Pvt. Ltd. (Corporate Debtor). Loan agreements were executed, and the flats were mortgaged as security. The NCLT initiated CIRP against Saha Infratech Pvt. Ltd. based on a Section 7 application under the IBC. IIFL Home Finance Ltd. filed a claim with the Resolution Professional, which was not admitted. Consequently, IIFL Home Finance Ltd. filed an application before the NCLT seeking a direction to the Resolution Professional to acknowledge their claim, which was dismissed. A quadrapartite agreement existed amongst Logix city Developers Pvt. ltd., Saha Infratech Pvt. Ltd., Mr. Vikas Pandhi and Anu Pandhi, and
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The National Company Law Tribunal (NCLT), New…
The NCLT, Delhi admitted CP (IB) –…
This appeal arises from an order dated 2024-01-23 by the National Company Law Tribunal (NCLT), New Delhi, dismissing an application filed by IIFL Home Finance Ltd. The application sought a direction to the Resolution Professional to acknowledge or admit their claim and create a chart regarding flats developed by the Corporate Debtor, Saha Infratech Pvt. Ltd. The NCLT had initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor following a Section 7 application under the Insolvency and Bankruptcy Code (IBC), 2016.
IIFL Home Finance Ltd. provided loans to flat buyers, including Mr. Vikas Pandhi and Mr. Vinod Kumar, for purchasing flats in a project developed by Saha Infratech Pvt. Ltd. (Corporate Debtor). Loan agreements were executed, and the flats were mortgaged as security. The NCLT initiated CIRP against Saha Infratech Pvt. Ltd. based on a Section 7 application under the IBC. IIFL Home Finance Ltd. filed a claim with the Resolution Professional, which was not admitted. Consequently, IIFL Home Finance Ltd. filed an application before the NCLT seeking a direction to the Resolution Professional to acknowledge their claim, which was dismissed. A quadrapartite agreement existed amongst Logix city Developers Pvt. ltd., Saha Infratech Pvt. Ltd., Mr. Vikas Pandhi and Anu Pandhi, and
…The National Company Law Tribunal (NCLT), New…
The NCLT, Delhi admitted CP (IB) –…