This case involves an appeal against three orders passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, in a company petition related to a pre-packaged insolvency resolution process under Section 54C of the Insolvency and Bankruptcy Code (IBC). The appellant, Krrish Realtech Private Limited, is the Corporate Debtor. The appeal contests the Adjudicating Authority's decision to grant time to objectors/interveners to file objections before admitting the application for pre-packaged insolvency.
Krrish Realtech Private Limited, the Corporate Debtor, filed an application for pre-packaged insolvency resolution process under Section 54C of the IBC, claiming to be under a debt of Rs. 673,16,36,869.63. The Corporate Debtor issued an e-mail on 28.09.2021 to its stakeholders, indicating its intention to take recourse to pre-packaged insolvency. A meeting of Financial Creditors was convened on 30.09.2021, and a Resolution Professional was appointed. Objectors, primarily homebuyers, appeared before the Adjudicating Authority, opposing the application. They raised objections, including allegations of non-compliance with Section 54C, lack of proper notice for the creditors' meeting, and fraudulent constitution of the list of unrelated Financial Creditors. The
…Sign in to view the parties.
Corporate Debtor issued an e-mail to its…
Corporate Debtor issued an e-mail at 3.30 A.M.…
This case involves an appeal against three orders passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, in a company petition related to a pre-packaged insolvency resolution process under Section 54C of the Insolvency and Bankruptcy Code (IBC). The appellant, Krrish Realtech Private Limited, is the Corporate Debtor. The appeal contests the Adjudicating Authority's decision to grant time to objectors/interveners to file objections before admitting the application for pre-packaged insolvency.
Krrish Realtech Private Limited, the Corporate Debtor, filed an application for pre-packaged insolvency resolution process under Section 54C of the IBC, claiming to be under a debt of Rs. 673,16,36,869.63. The Corporate Debtor issued an e-mail on 28.09.2021 to its stakeholders, indicating its intention to take recourse to pre-packaged insolvency. A meeting of Financial Creditors was convened on 30.09.2021, and a Resolution Professional was appointed. Objectors, primarily homebuyers, appeared before the Adjudicating Authority, opposing the application. They raised objections, including allegations of non-compliance with Section 54C, lack of proper notice for the creditors' meeting, and fraudulent constitution of the list of unrelated Financial Creditors. The
…Corporate Debtor issued an e-mail to its…
Corporate Debtor issued an e-mail at 3.30 A.M.…