Mrs. Rita Kapur filed an appeal under Section 61 read with Section 7 of the Insolvency and Bankruptcy Code, 2016, against the impugned order dated 26.11.2019 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench VI) in Company Petition No. (IB) 987 of 2019. The Adjudicating Authority had rejected the petition of the Appellant in terms of Section 7(5) of the I&B Code, 2016. The appellant claimed that a loan of Rs. 40 Lakhs was given to the Respondent No. 1, Invest Care Real Estate LLP, which was to be repaid in four installments, but neither the principal amount nor interest has been paid. The appellant also alleged that the loan was converted into 'equity' on 25.03.2014 and that there was irregularity in the purchase of Non-judicial
…Mrs. Rita Kapur, the appellant, filed an appeal against the order of the Adjudicating Authority (NCLT, New Delhi), which rejected her application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mrs. Kapur claimed to be a financial creditor of Invest Care Real Estate LLP (Respondent No. 1), alleging that she had given a loan of Rs. 40 Lakhs to the respondent, which was to be repaid in four installments, but neither the principal nor the interest was paid. She further alleged that the loan was converted into equity on 25.03.2014 and pointed out irregularities in the purchase of non-judicial e-stamp paper. The respondent argued that Mrs. Kapur was not a financial creditor but a related party and that the loan had been converted into equity. The
…Sign in to view the parties.
Impugned order passed by National Company Law…
Delay condoned by the…
Mrs. Rita Kapur filed an appeal under Section 61 read with Section 7 of the Insolvency and Bankruptcy Code, 2016, against the impugned order dated 26.11.2019 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench VI) in Company Petition No. (IB) 987 of 2019. The Adjudicating Authority had rejected the petition of the Appellant in terms of Section 7(5) of the I&B Code, 2016. The appellant claimed that a loan of Rs. 40 Lakhs was given to the Respondent No. 1, Invest Care Real Estate LLP, which was to be repaid in four installments, but neither the principal amount nor interest has been paid. The appellant also alleged that the loan was converted into 'equity' on 25.03.2014 and that there was irregularity in the purchase of Non-judicial
…Mrs. Rita Kapur, the appellant, filed an appeal against the order of the Adjudicating Authority (NCLT, New Delhi), which rejected her application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mrs. Kapur claimed to be a financial creditor of Invest Care Real Estate LLP (Respondent No. 1), alleging that she had given a loan of Rs. 40 Lakhs to the respondent, which was to be repaid in four installments, but neither the principal nor the interest was paid. She further alleged that the loan was converted into equity on 25.03.2014 and pointed out irregularities in the purchase of non-judicial e-stamp paper. The respondent argued that Mrs. Kapur was not a financial creditor but a related party and that the loan had been converted into equity. The
…Impugned order passed by National Company Law…
Delay condoned by the…