This is a Company Appeal (AT) (Insolvency) No. 151 of 2024 filed against the order dated 20.12.2023 passed by the Learned Adjudicating Authority in Section 95(1) of the Insolvency and Bankruptcy Code, 2016, in an application filed by IFCI Limited. The impugned order appointed a Resolution Professional. The appellant argues that PNB Housing Finance Ltd. had already filed an application under section 95, which was admitted on 11.10.2022, and a Resolution Professional had already been appointed. The Adjudicating Authority was adjourning earlier due to the pendency of the Section 95 application filed by PNB Housing Financial Ltd. However, by the impugned order dated 20.12.2023, another Resolution Professional was appointed.
Mohit Arora filed an appeal against IFCI Ltd. & Anr. The appeal challenges an order dated 20.12.2023 passed by the Adjudicating Authority under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. IFCI Limited filed the application leading to the impugned order. The appellant contends that PNB Housing Finance Ltd. had already filed an application under section 95, admitted on 11.10.2022, and a Resolution Professional was already appointed. The Adjudicating Authority had previously adjourned matters due to the pending Section 95 application by PNB Housing Financial Ltd. However, the impugned order dated 20.12.2023 appointed another Resolution Professional. The respondent's counsel does not dispute that a Resolution Professional was already appointed vide order
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PNB Housing Finance…
The Adjudicating Authority passed the…
This is a Company Appeal (AT) (Insolvency) No. 151 of 2024 filed against the order dated 20.12.2023 passed by the Learned Adjudicating Authority in Section 95(1) of the Insolvency and Bankruptcy Code, 2016, in an application filed by IFCI Limited. The impugned order appointed a Resolution Professional. The appellant argues that PNB Housing Finance Ltd. had already filed an application under section 95, which was admitted on 11.10.2022, and a Resolution Professional had already been appointed. The Adjudicating Authority was adjourning earlier due to the pendency of the Section 95 application filed by PNB Housing Financial Ltd. However, by the impugned order dated 20.12.2023, another Resolution Professional was appointed.
Mohit Arora filed an appeal against IFCI Ltd. & Anr. The appeal challenges an order dated 20.12.2023 passed by the Adjudicating Authority under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. IFCI Limited filed the application leading to the impugned order. The appellant contends that PNB Housing Finance Ltd. had already filed an application under section 95, admitted on 11.10.2022, and a Resolution Professional was already appointed. The Adjudicating Authority had previously adjourned matters due to the pending Section 95 application by PNB Housing Financial Ltd. However, the impugned order dated 20.12.2023 appointed another Resolution Professional. The respondent's counsel does not dispute that a Resolution Professional was already appointed vide order
…PNB Housing Finance…
The Adjudicating Authority passed the…