Mr. Hukum Singh, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against Adaab Hotels Ltd., the Corporate Debtor. The Adjudicating Authority (National Company Law Tribunal), Court-VI, New Delhi, admitted the application through an order dated November 6, 2019. Subsequently, the Director of the Corporate Debtor preferred an appeal against this order.
On 15.11.2019, Mr. Hukum Singh, the Financial Creditor, initiated proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s. Adaab Hotels Ltd., the Corporate Debtor. The National Company Law Tribunal admitted the application on November 6, 2019, leading to an appeal by the Corporate Debtor's Director. During the appeal proceedings, the Appellant paid Rs. 1,18,24,984/- to Mr. Hukum Singh via Banker's Cheque No. 046566 dated 14th November, 2019. The parties informed the court that the Committee of Creditors had not been constituted. Mr. Atul Kumar, the Interim Resolution Professional, confirmed he had worked for nine days and had been paid for publication by Mr. Hukum Singh. His fee was assessed at Rs.1,00,000/- to be paid by the Appellant. The
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Mr. Hukum Singh filed an application under…
The Adjudicating Authority admitted the…
Mr. Hukum Singh, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against Adaab Hotels Ltd., the Corporate Debtor. The Adjudicating Authority (National Company Law Tribunal), Court-VI, New Delhi, admitted the application through an order dated November 6, 2019. Subsequently, the Director of the Corporate Debtor preferred an appeal against this order.
On 15.11.2019, Mr. Hukum Singh, the Financial Creditor, initiated proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s. Adaab Hotels Ltd., the Corporate Debtor. The National Company Law Tribunal admitted the application on November 6, 2019, leading to an appeal by the Corporate Debtor's Director. During the appeal proceedings, the Appellant paid Rs. 1,18,24,984/- to Mr. Hukum Singh via Banker's Cheque No. 046566 dated 14th November, 2019. The parties informed the court that the Committee of Creditors had not been constituted. Mr. Atul Kumar, the Interim Resolution Professional, confirmed he had worked for nine days and had been paid for publication by Mr. Hukum Singh. His fee was assessed at Rs.1,00,000/- to be paid by the Appellant. The
…Mr. Hukum Singh filed an application under…
The Adjudicating Authority admitted the…