The case involves two appeals filed against the same order dated 2024-04-22 passed by the Adjudicating Authority (National Company Law Tribunal) New Delhi Bench, Court-II, which admitted a Section 7 application filed by ASK Trusteeship Services Pvt. Ltd. Company Appeal (AT) (Insolvency) No. 912 of 2024 was filed by JM Financial Asset Reconstruction Company Ltd., claiming to be a financial creditor and assignee of Piramal. Company Appeal (AT) (Insolvency) No. 926 of 2024 was filed by the Suspended Director of the Corporate Debtor. The debt of ASK Trusteeship Services Pvt. Ltd. was allegedly subordinate to Piramal, and two Section 7 applications were filed by ASK Trusteeship Services Pvt. Ltd. The admitted Section 7 application was based on the debt and default of
…Two appeals were filed against the order dated 2024-04-22 passed by the Adjudicating Authority admitting a Section 7 application filed by ASK Trusteeship Services Pvt. Ltd. JM Financial Asset Reconstruction Company Ltd. filed one appeal as a financial creditor and assignee of Piramal. The Suspended Director of the Corporate Debtor filed the other appeal. ASK Trusteeship Services Pvt. Ltd.'s debt was allegedly subordinate to Piramal's debt. ASK Trusteeship Services Pvt. Ltd. filed two Section 7 applications, with the admitted one based on Piramal's default. JM Financial Asset Reconstruction Company Ltd. also filed a Section 7 application. Other Section 7 applications by ASK Trusteeship Services Pvt. Ltd. and JM Financial Asset Reconstruction Company Ltd. were dismissed
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The case involves two appeals filed against the same order dated 2024-04-22 passed by the Adjudicating Authority (National Company Law Tribunal) New Delhi Bench, Court-II, which admitted a Section 7 application filed by ASK Trusteeship Services Pvt. Ltd. Company Appeal (AT) (Insolvency) No. 912 of 2024 was filed by JM Financial Asset Reconstruction Company Ltd., claiming to be a financial creditor and assignee of Piramal. Company Appeal (AT) (Insolvency) No. 926 of 2024 was filed by the Suspended Director of the Corporate Debtor. The debt of ASK Trusteeship Services Pvt. Ltd. was allegedly subordinate to Piramal, and two Section 7 applications were filed by ASK Trusteeship Services Pvt. Ltd. The admitted Section 7 application was based on the debt and default of
…Two appeals were filed against the order dated 2024-04-22 passed by the Adjudicating Authority admitting a Section 7 application filed by ASK Trusteeship Services Pvt. Ltd. JM Financial Asset Reconstruction Company Ltd. filed one appeal as a financial creditor and assignee of Piramal. The Suspended Director of the Corporate Debtor filed the other appeal. ASK Trusteeship Services Pvt. Ltd.'s debt was allegedly subordinate to Piramal's debt. ASK Trusteeship Services Pvt. Ltd. filed two Section 7 applications, with the admitted one based on Piramal's default. JM Financial Asset Reconstruction Company Ltd. also filed a Section 7 application. Other Section 7 applications by ASK Trusteeship Services Pvt. Ltd. and JM Financial Asset Reconstruction Company Ltd. were dismissed
…The Adjudicating Authority (National Company…
Two Appeals have been…
Sign in to view related legal provisions.