The appeal was filed against the order of the Adjudicating Authority dated 30.01.2025, which admitted a Section 7 application filed by M/s Tourism Finance Corporation of India Limited, alleging a default of Rs. 13,00,63,069/- as of 28.02.2024.
The appeal was filed against the Adjudicating Authority's order dated 30.01.2025 admitting a Section 7 application.
The Section 7 application was filed by M/s Tourism Finance Corporation of India Limited.
The alleged default amount was Rs. 13,00,63,069/- as of 28.02.2024.
The appellant claimed to have made an advance payment of Rs. 5 Crores on 12.06.2023.
UV Asset Reconstruction Company Limited sought substitution for Tourism Finance Corporation of India Limited based on an Assignment Agreement dated 28.03.2025.
The Adjudicating Authority accepted documents regarding the Rs. 5 Crores payment but did not address it in the impugned order.
The court allowed UV Asset Reconstruction Company Limited to be substituted in place of Tourism Finance Corporation of India Limited.
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Adjudicating Authority passed an order…
Alleged default date…
The appeal was filed against the order of the Adjudicating Authority dated 30.01.2025, which admitted a Section 7 application filed by M/s Tourism Finance Corporation of India Limited, alleging a default of Rs. 13,00,63,069/- as of 28.02.2024.
The appeal was filed against the Adjudicating Authority's order dated 30.01.2025 admitting a Section 7 application.
The Section 7 application was filed by M/s Tourism Finance Corporation of India Limited.
The alleged default amount was Rs. 13,00,63,069/- as of 28.02.2024.
The appellant claimed to have made an advance payment of Rs. 5 Crores on 12.06.2023.
UV Asset Reconstruction Company Limited sought substitution for Tourism Finance Corporation of India Limited based on an Assignment Agreement dated 28.03.2025.
The Adjudicating Authority accepted documents regarding the Rs. 5 Crores payment but did not address it in the impugned order.
The court allowed UV Asset Reconstruction Company Limited to be substituted in place of Tourism Finance Corporation of India Limited.
…Adjudicating Authority passed an order…
Alleged default date…