This case involves an appeal against an order dated 19.07.2022 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-VI in I.A. No. 4859/2021 in CP No. (IB) - 3079/(ND)/2019. The Corporate Debtor, Intergen Energy Ltd., challenged the order. The initial application was filed by the Financial Creditor, Anil Hada (HUF), under Section 7 of the Insolvency and Bankruptcy Code (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor filed an application (I.A. No. 4859 of 2021) to bring a settlement agreement dated 01.04.2021 on record and dismiss the company petition. The Adjudicating Authority rejected this application, leading to the current appeal.
The Financial Creditor, Anil Hada (HUF), filed a Section 7 application on 26.11.2019 to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Intergen Energy Ltd. Notices were issued on 16.12.2019. Pleadings were completed, and the matter was at the stage of hearing when the parties entered into a Settlement Agreement dated 28.01.2021. The Corporate Debtor claims that a new Settlement Agreement was entered on 01.04.2021, according to which Rs. 60 Lakhs were due, out of which Rs. 55 Lakhs were paid in April 2021, leaving a balance of Rs. 5 Lakhs. The Financial Creditor refused to accept the remaining Rs. 5 Lakhs. The Corporate Debtor filed I.A. No. 4859 of 2021 to bring the 01.04.2021 settlement on record. The Financial Creditor contends
…Sign in to view the parties.
Anil Hada (HUF) filed a Section 7 application…
Notices were issued to…
This case involves an appeal against an order dated 19.07.2022 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-VI in I.A. No. 4859/2021 in CP No. (IB) - 3079/(ND)/2019. The Corporate Debtor, Intergen Energy Ltd., challenged the order. The initial application was filed by the Financial Creditor, Anil Hada (HUF), under Section 7 of the Insolvency and Bankruptcy Code (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor filed an application (I.A. No. 4859 of 2021) to bring a settlement agreement dated 01.04.2021 on record and dismiss the company petition. The Adjudicating Authority rejected this application, leading to the current appeal.
The Financial Creditor, Anil Hada (HUF), filed a Section 7 application on 26.11.2019 to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Intergen Energy Ltd. Notices were issued on 16.12.2019. Pleadings were completed, and the matter was at the stage of hearing when the parties entered into a Settlement Agreement dated 28.01.2021. The Corporate Debtor claims that a new Settlement Agreement was entered on 01.04.2021, according to which Rs. 60 Lakhs were due, out of which Rs. 55 Lakhs were paid in April 2021, leaving a balance of Rs. 5 Lakhs. The Financial Creditor refused to accept the remaining Rs. 5 Lakhs. The Corporate Debtor filed I.A. No. 4859 of 2021 to bring the 01.04.2021 settlement on record. The Financial Creditor contends
…Anil Hada (HUF) filed a Section 7 application…
Notices were issued to…