The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, which admitted an application preferred by the respondent, proprietor of M/s Gallerie Nvya, for initiating an insolvency resolution process against the appellant-corporate debtor, M/s Kaliber Associates Pvt Ltd, under Section 7 of the Insolvency and Bankruptcy Code, 2016. A moratorium was declared, and an Interim Resolution Professional was appointed.
M/s Gallerie Nvya, the respondent, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Kaliber Associates Pvt Ltd, the appellant-corporate debtor, for initiating an insolvency resolution process. The Adjudicating Authority admitted the application and declared a moratorium. The appellant contended that they were not given any notice before the admission of the application, violating the principles of natural justice. The appellant claimed to be a solvent company willing to pay the dues. Financial dealings occurred in 2012, with Rs.50 lakhs repaid out of Rs.1.5 crores. Disagreements arose in 2016, leading the corporate debtor to stop payments. After receiving a legal demand notice on 2016-10-20, the appellant arranged to pay
…Sign in to view the parties.
The Adjudicating Authority (National Company…
The appellant-corporate debtor, M/s Kaliber…
Sign in to view related legal provisions.
The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, which admitted an application preferred by the respondent, proprietor of M/s Gallerie Nvya, for initiating an insolvency resolution process against the appellant-corporate debtor, M/s Kaliber Associates Pvt Ltd, under Section 7 of the Insolvency and Bankruptcy Code, 2016. A moratorium was declared, and an Interim Resolution Professional was appointed.
M/s Gallerie Nvya, the respondent, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Kaliber Associates Pvt Ltd, the appellant-corporate debtor, for initiating an insolvency resolution process. The Adjudicating Authority admitted the application and declared a moratorium. The appellant contended that they were not given any notice before the admission of the application, violating the principles of natural justice. The appellant claimed to be a solvent company willing to pay the dues. Financial dealings occurred in 2012, with Rs.50 lakhs repaid out of Rs.1.5 crores. Disagreements arose in 2016, leading the corporate debtor to stop payments. After receiving a legal demand notice on 2016-10-20, the appellant arranged to pay
…The Adjudicating Authority (National Company…
The appellant-corporate debtor, M/s Kaliber…
Sign in to view related legal provisions.