This appeal was filed against the order dated 30.11.2023, by which an application filed by HDFC Bank Limited (Financial Creditor) against M/s Mountain Meadow Holidays Pvt. Ltd. (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, was admitted.
HDFC Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s Mountain Meadow Holidays Pvt. Ltd.
The application was admitted by the Tribunal on 30.11.2023, and an Interim Resolution Professional (IRP) was appointed.
The Appellant, Mani Gupta, a suspended director of the Corporate Debtor, filed an appeal against the admission order.
The Corporate Debtor furnished a corporate guarantee for the loan facility availed by M/s Madhuvan Tieup Pvt. Ltd., which is already in CIRP.
The date of default mentioned in the application is 27.12.2019.
The Appellant argued that the application under Section 7 was barred by Section 10A of the Code.
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The Tribunal admitted the application filed by…
The Court noted the Appellant's submission…
This appeal was filed against the order dated 30.11.2023, by which an application filed by HDFC Bank Limited (Financial Creditor) against M/s Mountain Meadow Holidays Pvt. Ltd. (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, was admitted.
HDFC Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s Mountain Meadow Holidays Pvt. Ltd.
The application was admitted by the Tribunal on 30.11.2023, and an Interim Resolution Professional (IRP) was appointed.
The Appellant, Mani Gupta, a suspended director of the Corporate Debtor, filed an appeal against the admission order.
The Corporate Debtor furnished a corporate guarantee for the loan facility availed by M/s Madhuvan Tieup Pvt. Ltd., which is already in CIRP.
The date of default mentioned in the application is 27.12.2019.
The Appellant argued that the application under Section 7 was barred by Section 10A of the Code.
…The Tribunal admitted the application filed by…
The Court noted the Appellant's submission…