This case involves an appeal against an order dated June 21, 2023, which dismissed an I.A. filed by the Appellant seeking to recall an order dated September 24, 2019. The initial order arose from a Section 7 application filed by the Respondent, Stressed Assets Stabilization Fund, against the Corporate Debtor, Krystal Stone Exports Ltd. Notices issued to the Corporate Debtor were returned with postal remarks. The Adjudicating Authority ordered service via email and newspaper publication. The Corporate Debtor did not appear, and the Section 7 application was admitted. The Appellant then filed an I.A. to recall the admission order, which was dismissed, leading to the present appeal.
Krystal Stone Exports Ltd. is the Corporate Debtor. Stressed Assets Stabilization Fund filed a Section 7 application against Krystal Stone Exports Ltd. The registered office of Krystal Stone Exports Ltd. is in Mumbai, but the Appellant claims it has been in the possession of an official assignee since 2013. The Appellant also claims the Financial Creditor was aware of another office in Jaipur. Notices sent to the registered office were returned with postal remarks. The Adjudicating Authority ordered service via email and newspaper publication. The Corporate Debtor did not appear, and the Section 7 application was admitted on 24.09.2019. The Appellant filed an I.A. No. 522 of 2020 to recall the admission order, which was dismissed. The Appellant sent an OTS proposal
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This case involves an appeal against an order dated June 21, 2023, which dismissed an I.A. filed by the Appellant seeking to recall an order dated September 24, 2019. The initial order arose from a Section 7 application filed by the Respondent, Stressed Assets Stabilization Fund, against the Corporate Debtor, Krystal Stone Exports Ltd. Notices issued to the Corporate Debtor were returned with postal remarks. The Adjudicating Authority ordered service via email and newspaper publication. The Corporate Debtor did not appear, and the Section 7 application was admitted. The Appellant then filed an I.A. to recall the admission order, which was dismissed, leading to the present appeal.
Krystal Stone Exports Ltd. is the Corporate Debtor. Stressed Assets Stabilization Fund filed a Section 7 application against Krystal Stone Exports Ltd. The registered office of Krystal Stone Exports Ltd. is in Mumbai, but the Appellant claims it has been in the possession of an official assignee since 2013. The Appellant also claims the Financial Creditor was aware of another office in Jaipur. Notices sent to the registered office were returned with postal remarks. The Adjudicating Authority ordered service via email and newspaper publication. The Corporate Debtor did not appear, and the Section 7 application was admitted on 24.09.2019. The Appellant filed an I.A. No. 522 of 2020 to recall the admission order, which was dismissed. The Appellant sent an OTS proposal
…Adjudicating Authority passed an Order to serve…
Adjudicating Authority…