The case involves an appeal against two impugned orders passed by the National Company Law Tribunal (NCLT), New Delhi, in an insolvency proceeding (IB-179/ND/2019). The appellant, Mr. Jai Kishan Gupta, Director of the suspended board of Aadhar Shri Infratech Private Ltd. (Corporate Debtor), filed the appeal. The initial application for insolvency was filed by Green Edge Buildtech LLP (Operational Creditor) under Section 9 of the IBC. Subsequently, a settlement was attempted, and an application for withdrawal of the insolvency proceedings was filed. The NCLT initially directed the IRP to ascertain objections from financial creditors before considering the withdrawal. Later, the NCLT noted that a Committee of Creditors (COC) had been constituted and directed the IRP to
…1. Green Edge Buildtech LLP (Operational Creditor) filed an application under Section 9 of the IBC against Aadhar Shri Infratech Private Ltd. (Corporate Debtor).
2. Mr. Jai Kishan Gupta, Director of the Corporate Debtor, filed an appeal against two orders of the NCLT.
3. The NCLT admitted the Section 9 application on 11.07.2019.
4. A settlement was attempted between the Operational Creditor and the Corporate Debtor, with post-dated cheques issued on 26.07.2019.
5. An application for withdrawal of the insolvency proceedings was filed on 13.07.2019.
6. The IRP, Mr. Prabhat Ranjan Singh, filed Form FA before the Adjudicating Authority, enclosing the settlement dated 26.07.2019.
7. The NCLT directed the IRP to ascertain objections from financial creditors regarding the
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Green Edge Buildtech Llp filed Application…
The Application came to…
The case involves an appeal against two impugned orders passed by the National Company Law Tribunal (NCLT), New Delhi, in an insolvency proceeding (IB-179/ND/2019). The appellant, Mr. Jai Kishan Gupta, Director of the suspended board of Aadhar Shri Infratech Private Ltd. (Corporate Debtor), filed the appeal. The initial application for insolvency was filed by Green Edge Buildtech LLP (Operational Creditor) under Section 9 of the IBC. Subsequently, a settlement was attempted, and an application for withdrawal of the insolvency proceedings was filed. The NCLT initially directed the IRP to ascertain objections from financial creditors before considering the withdrawal. Later, the NCLT noted that a Committee of Creditors (COC) had been constituted and directed the IRP to
…1. Green Edge Buildtech LLP (Operational Creditor) filed an application under Section 9 of the IBC against Aadhar Shri Infratech Private Ltd. (Corporate Debtor).
2. Mr. Jai Kishan Gupta, Director of the Corporate Debtor, filed an appeal against two orders of the NCLT.
3. The NCLT admitted the Section 9 application on 11.07.2019.
4. A settlement was attempted between the Operational Creditor and the Corporate Debtor, with post-dated cheques issued on 26.07.2019.
5. An application for withdrawal of the insolvency proceedings was filed on 13.07.2019.
6. The IRP, Mr. Prabhat Ranjan Singh, filed Form FA before the Adjudicating Authority, enclosing the settlement dated 26.07.2019.
7. The NCLT directed the IRP to ascertain objections from financial creditors regarding the
Green Edge Buildtech Llp filed Application…
The Application came to…