The case involves an application (IA No. 891/NCLT/AHM/2022) filed by Vrundavan Residency Pvt Ltd, the original applicant in CP (IB) No. 300/2020, seeking restoration of the main petition under Rule 11 of the National Company Law Tribunal Rules, 2016. The initial petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mars Remedies Pvt Ltd was rejected on 22.03.2021 due to being time-barred. The applicant appealed to NCLAT, which allowed the appeal on 04.03.2022, setting aside the order and remitting the matter back to the Adjudicating Authority. Subsequently, CIRP was initiated against the Corporate Debtor in CP(IB) 804/2019, leading to the disposal of the main petition (CP(IB) 300/2020)
…Vrundavan Residency Pvt Ltd filed an insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, being CP (IB) No. 300 of 2020, to initiate CIRP against Mars Remedies Pvt Ltd. The date of default was 29.09.2015. The petition was initially rejected on 22.03.2021 as time-barred. Vrundavan Residency appealed to NCLAT, which allowed the appeal on 04.03.2022 and remitted the matter back. Subsequently, CIRP was initiated against Mars Remedies in CP(IB) 804/2019. Consequently, CP(IB) 300/2020 was disposed of as infructuous on 07.09.2022, with liberty to restore it if CP(IB) 804/2019 was settled or set aside. The Supreme Court stayed further proceedings in CP(IB) 804/2019 on 26.09.2022. Vrundavan Residency then filed IA No. 891/NCLT/AHM/2022 seeking
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Vrundavan Residency Pvt Ltd filed CP (IB) No.…
The date of default by…
The case involves an application (IA No. 891/NCLT/AHM/2022) filed by Vrundavan Residency Pvt Ltd, the original applicant in CP (IB) No. 300/2020, seeking restoration of the main petition under Rule 11 of the National Company Law Tribunal Rules, 2016. The initial petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Mars Remedies Pvt Ltd was rejected on 22.03.2021 due to being time-barred. The applicant appealed to NCLAT, which allowed the appeal on 04.03.2022, setting aside the order and remitting the matter back to the Adjudicating Authority. Subsequently, CIRP was initiated against the Corporate Debtor in CP(IB) 804/2019, leading to the disposal of the main petition (CP(IB) 300/2020)
…Vrundavan Residency Pvt Ltd filed an insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, being CP (IB) No. 300 of 2020, to initiate CIRP against Mars Remedies Pvt Ltd. The date of default was 29.09.2015. The petition was initially rejected on 22.03.2021 as time-barred. Vrundavan Residency appealed to NCLAT, which allowed the appeal on 04.03.2022 and remitted the matter back. Subsequently, CIRP was initiated against Mars Remedies in CP(IB) 804/2019. Consequently, CP(IB) 300/2020 was disposed of as infructuous on 07.09.2022, with liberty to restore it if CP(IB) 804/2019 was settled or set aside. The Supreme Court stayed further proceedings in CP(IB) 804/2019 on 26.09.2022. Vrundavan Residency then filed IA No. 891/NCLT/AHM/2022 seeking
…Vrundavan Residency Pvt Ltd filed CP (IB) No.…
The date of default by…