The case involves an appeal against an order admitting an application under Section 9 of the Insolvency and Bankruptcy Code (I&B Code). M/s. Trivium Systems Inc., the Operational Creditor, had filed a C.P. No. 133/15 under Sections 433(e), 434(1) and 439 of the Companies Act, 1956 before the High Court of Karnataka against M/s. Sobha Renaissance Information Technology Private Limited (SRIT), the Corporate Debtor, for winding-up. Subsequently, the case was transferred to the National Company Law Tribunal, Bengaluru Bench, and converted into an application under Section 9 of the I&B Code. The Adjudicating Authority admitted the application, leading to the appeal.
M/s. Trivium Systems Inc. (Operational Creditor) initiated proceedings against M/s. Sobha Renaissance Information Technology Private Limited (Corporate Debtor) for winding-up under the Companies Act, 1956, before the High Court of Karnataka. The case was later transferred to NCLT Bengaluru and converted to an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT admitted the application, leading to the current appeal. The appellant challenged the order, initially citing limitation but later expressing willingness to settle. The parties reached a settlement, with the appellant paying the total claim amount to the operational creditor. The Committee of Creditors was not constituted. The appellant handed over two Demand Drafts for Rs.
…Sign in to view the parties.
Proceedings initiated under Sections 433(e),…
The petition was converted as application…
The case involves an appeal against an order admitting an application under Section 9 of the Insolvency and Bankruptcy Code (I&B Code). M/s. Trivium Systems Inc., the Operational Creditor, had filed a C.P. No. 133/15 under Sections 433(e), 434(1) and 439 of the Companies Act, 1956 before the High Court of Karnataka against M/s. Sobha Renaissance Information Technology Private Limited (SRIT), the Corporate Debtor, for winding-up. Subsequently, the case was transferred to the National Company Law Tribunal, Bengaluru Bench, and converted into an application under Section 9 of the I&B Code. The Adjudicating Authority admitted the application, leading to the appeal.
M/s. Trivium Systems Inc. (Operational Creditor) initiated proceedings against M/s. Sobha Renaissance Information Technology Private Limited (Corporate Debtor) for winding-up under the Companies Act, 1956, before the High Court of Karnataka. The case was later transferred to NCLT Bengaluru and converted to an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT admitted the application, leading to the current appeal. The appellant challenged the order, initially citing limitation but later expressing willingness to settle. The parties reached a settlement, with the appellant paying the total claim amount to the operational creditor. The Committee of Creditors was not constituted. The appellant handed over two Demand Drafts for Rs.
…Proceedings initiated under Sections 433(e),…
The petition was converted as application…