This appeal was directed against the order dated 20.05.2022, by which an application filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by Respondent No. 2 and 3 against Respondent No. 1 for the resolution of their debt was admitted. The Corporate Debtor was sent to Insolvency on an Application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 of the debt of Rs.29,36,840/-. The Corporate Insolvency Resolution Process was initiated by Ex-Director of the Corporate Debtor.
Inteco Melting and Casting Technologies GMBH (Appellant) filed an appeal against an order dated 20.05.2022, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by Inteco Special Melting Technologies (India) Pvt. Ltd. & Ors (Respondents) against the Corporate Debtor. The Appellant claimed the amount to be paid was Rs. 19,36,840/-, while the Respondents alleged it to be Rs. 29,36,840/-. The Appellant deposited Rs. 29,36,840/-. The matter was settled at Rs. 25 Lac with Respondent No. 2 and 3. The Appellant sought the return of the deposited amount to facilitate the payment of the settled amount. The Corporate Insolvency Resolution Process was initiated by Ex-Director of the Corporate Debtor.
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An application filed under Section 7 of the…
The Court passed an order noting the Appellant's…
This appeal was directed against the order dated 20.05.2022, by which an application filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by Respondent No. 2 and 3 against Respondent No. 1 for the resolution of their debt was admitted. The Corporate Debtor was sent to Insolvency on an Application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 of the debt of Rs.29,36,840/-. The Corporate Insolvency Resolution Process was initiated by Ex-Director of the Corporate Debtor.
Inteco Melting and Casting Technologies GMBH (Appellant) filed an appeal against an order dated 20.05.2022, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by Inteco Special Melting Technologies (India) Pvt. Ltd. & Ors (Respondents) against the Corporate Debtor. The Appellant claimed the amount to be paid was Rs. 19,36,840/-, while the Respondents alleged it to be Rs. 29,36,840/-. The Appellant deposited Rs. 29,36,840/-. The matter was settled at Rs. 25 Lac with Respondent No. 2 and 3. The Appellant sought the return of the deposited amount to facilitate the payment of the settled amount. The Corporate Insolvency Resolution Process was initiated by Ex-Director of the Corporate Debtor.
An application filed under Section 7 of the…
The Court passed an order noting the Appellant's…