This case involves an appeal against an order dated 17th February 2022, passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Bench-IV) in CP (IB) No. 778/(ND)/2021, which admitted a Section 7 application filed by the Respondent (Financial Creditor). The Appellant, the erstwhile director of the corporate debtor, claims that the Adjudicating Authority did not provide sufficient opportunity to file a reply to the Section 7 application.
The Appellant, Yogesh Goswami, the erstwhile director of Mabsoot Buildhomes, filed an appeal against an order passed by the Adjudicating Authority (NCLT) on February 17, 2022. This order admitted a Section 7 application filed by the Respondent, L & T Finance Ltd. & Anr., the financial creditor. The notice regarding the Section 7 application was issued to the Corporate Debtor on December 23, 2021, and served on December 31, 2021. On February 17, 2022, the Appellant's counsel appeared before the NCLT and requested time to file a Vakalatnama and a reply to the application. This request was denied, and the NCLT reserved its order. The Appellant contends that the Corporate Debtor was not given a fair opportunity to present its case. The Respondent argues that the
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This case involves an appeal against an order dated 17th February 2022, passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Bench-IV) in CP (IB) No. 778/(ND)/2021, which admitted a Section 7 application filed by the Respondent (Financial Creditor). The Appellant, the erstwhile director of the corporate debtor, claims that the Adjudicating Authority did not provide sufficient opportunity to file a reply to the Section 7 application.
The Appellant, Yogesh Goswami, the erstwhile director of Mabsoot Buildhomes, filed an appeal against an order passed by the Adjudicating Authority (NCLT) on February 17, 2022. This order admitted a Section 7 application filed by the Respondent, L & T Finance Ltd. & Anr., the financial creditor. The notice regarding the Section 7 application was issued to the Corporate Debtor on December 23, 2021, and served on December 31, 2021. On February 17, 2022, the Appellant's counsel appeared before the NCLT and requested time to file a Vakalatnama and a reply to the application. This request was denied, and the NCLT reserved its order. The Appellant contends that the Corporate Debtor was not given a fair opportunity to present its case. The Respondent argues that the
…Notice by the Authority…
The Notice was served…