This case involves a Company Appeal (AT) filed by Indiabulls Housing Finance Limited challenging an order dated 08.10.2021 passed by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT order pertained to I.A. No. 1921 of 2021 filed by Kalpataru Properties Pvt. Ltd. seeking directions to Respondent No. 2 (Resolution Professional) to execute a conveyance deed. The dispute originates from a Memorandum of Understanding (MoU) dated 28th June, 2004, between Shree Ram Urban Infrastructure Ltd. (Corporate Debtor) and Kalpataru Properties for the sale of property. Kalpataru Properties paid Rs. 30 Crores towards the sale consideration. The Corporate Debtor failed to complete the sale, leading to arbitration. An arbitral award was passed in favor of Kalpataru
…Indiabulls Housing Finance Ltd. filed an appeal challenging the order dated 08.10.2021 passed by the NCLT Mumbai in I.A. No. 1921 of 2021 filed by Kalpataru Properties Pvt. Ltd. The dispute arose from an MoU dated 28.06.2004 between Shree Ram Urban Infrastructure Ltd. (Corporate Debtor) and Kalpataru Properties for the sale of property. Kalpataru Properties paid Rs. 30 crores towards the sale consideration. The Corporate Debtor failed to complete the sale, leading to arbitration. An arbitral award was passed in favor of Kalpataru Properties on 29.08.2016. The Corporate Debtor challenged the award under Section 34 of the Arbitration and Conciliation Act, 1996, before the Bombay High Court. The Bombay High Court appointed an official liquidator in a winding-up petition
…Sign in to view the parties.
Memorandum of Understanding executed between…
An arbitral award was…
This case involves a Company Appeal (AT) filed by Indiabulls Housing Finance Limited challenging an order dated 08.10.2021 passed by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT order pertained to I.A. No. 1921 of 2021 filed by Kalpataru Properties Pvt. Ltd. seeking directions to Respondent No. 2 (Resolution Professional) to execute a conveyance deed. The dispute originates from a Memorandum of Understanding (MoU) dated 28th June, 2004, between Shree Ram Urban Infrastructure Ltd. (Corporate Debtor) and Kalpataru Properties for the sale of property. Kalpataru Properties paid Rs. 30 Crores towards the sale consideration. The Corporate Debtor failed to complete the sale, leading to arbitration. An arbitral award was passed in favor of Kalpataru
…Indiabulls Housing Finance Ltd. filed an appeal challenging the order dated 08.10.2021 passed by the NCLT Mumbai in I.A. No. 1921 of 2021 filed by Kalpataru Properties Pvt. Ltd. The dispute arose from an MoU dated 28.06.2004 between Shree Ram Urban Infrastructure Ltd. (Corporate Debtor) and Kalpataru Properties for the sale of property. Kalpataru Properties paid Rs. 30 crores towards the sale consideration. The Corporate Debtor failed to complete the sale, leading to arbitration. An arbitral award was passed in favor of Kalpataru Properties on 29.08.2016. The Corporate Debtor challenged the award under Section 34 of the Arbitration and Conciliation Act, 1996, before the Bombay High Court. The Bombay High Court appointed an official liquidator in a winding-up petition
…Memorandum of Understanding executed between…
An arbitral award was…