The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 by Mascot Capital and Marketing Private Limited (MCMPL), the Financial Creditor, against the order dated 20.01.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench – IV) in C.P. (IB) No.4426/MB–IV/2019. The Adjudicating Authority had dismissed the application filed by the Financial Creditor under Section 7 of IBC, 2016 against Savair Energy Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP). The application before the Adjudicating Authority was filed by the Financial Creditor on 06.12.2019 under Section 7 of the IBC, 2016, seeking initiation of CIRP against the Corporate Debtor. The Financial Creditor had filed
…Mascot Capital and Marketing Private Limited (MCMPL), the Financial Creditor, filed an appeal against the order dated 20.01.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench – IV), which dismissed its application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Savair Energy Limited, the Corporate Debtor. The Financial Creditor's application was based on a default amount of Rs.3,70,00,000/-, comprising a principal amount of Rs.3,20,00,000/- and interest dues of Rs.50,00,000/-. The Adjudicating Authority noted that the 'date of default' was not explicitly mentioned in Part IV of Form – I but was derived from a Memorandum of Understanding (MoU)
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Financial Creditor and Corporate Debtor entered…
RTGS/SK/UTIBR52017031000…
The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 by Mascot Capital and Marketing Private Limited (MCMPL), the Financial Creditor, against the order dated 20.01.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench – IV) in C.P. (IB) No.4426/MB–IV/2019. The Adjudicating Authority had dismissed the application filed by the Financial Creditor under Section 7 of IBC, 2016 against Savair Energy Limited, the Corporate Debtor, for initiation of Corporate Insolvency Resolution Process (CIRP). The application before the Adjudicating Authority was filed by the Financial Creditor on 06.12.2019 under Section 7 of the IBC, 2016, seeking initiation of CIRP against the Corporate Debtor. The Financial Creditor had filed
…Mascot Capital and Marketing Private Limited (MCMPL), the Financial Creditor, filed an appeal against the order dated 20.01.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench – IV), which dismissed its application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Savair Energy Limited, the Corporate Debtor. The Financial Creditor's application was based on a default amount of Rs.3,70,00,000/-, comprising a principal amount of Rs.3,20,00,000/- and interest dues of Rs.50,00,000/-. The Adjudicating Authority noted that the 'date of default' was not explicitly mentioned in Part IV of Form – I but was derived from a Memorandum of Understanding (MoU)
…Financial Creditor and Corporate Debtor entered…
RTGS/SK/UTIBR52017031000…