The appeal was filed by the 'Corporate Debtor' (Lok Housing and Construction Ltd.) against an impugned order dated May 1, 2019, claiming that their right to file a reply was forfeited. The respondent, USV Private Limited, a financial creditor, stated that the Adjudicating Authority (NCLT), Mumbai, had already admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, on June 3, 2019. The appellant's counsel stated that they had information about the admission of the Section 7 application but had not yet received a copy of the order.
Lok Housing and Construction Ltd., the 'Corporate Debtor', filed an appeal against an order dated May 1, 2019, which allegedly forfeited their right to file a reply. USV Private Limited, the 'Financial Creditor', informed the court that the NCLT, Mumbai, had admitted a Section 7 application under the Insolvency and Bankruptcy Code, 2016, on June 3, 2019. The appellant acknowledged the admission of the Section 7 application but stated they had not yet received a copy of the order. The admission of the Section 7 application is a key fact, as it directly impacts the survival of the appeal filed by the Corporate Debtor.
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The Corporate Debtor's…
The Adjudicating Authority (NCLT), Mumbai,…
The appeal was filed by the 'Corporate Debtor' (Lok Housing and Construction Ltd.) against an impugned order dated May 1, 2019, claiming that their right to file a reply was forfeited. The respondent, USV Private Limited, a financial creditor, stated that the Adjudicating Authority (NCLT), Mumbai, had already admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, on June 3, 2019. The appellant's counsel stated that they had information about the admission of the Section 7 application but had not yet received a copy of the order.
Lok Housing and Construction Ltd., the 'Corporate Debtor', filed an appeal against an order dated May 1, 2019, which allegedly forfeited their right to file a reply. USV Private Limited, the 'Financial Creditor', informed the court that the NCLT, Mumbai, had admitted a Section 7 application under the Insolvency and Bankruptcy Code, 2016, on June 3, 2019. The appellant acknowledged the admission of the Section 7 application but stated they had not yet received a copy of the order. The admission of the Section 7 application is a key fact, as it directly impacts the survival of the appeal filed by the Corporate Debtor.
The Corporate Debtor's…
The Adjudicating Authority (NCLT), Mumbai,…