The case involves a Company Appeal (AT) (Ins) No. 558 of 2021 before the National Company Law Appellate Tribunal, New Delhi. The appellant is Nalin Virji Shah, and the respondents are Satish Sadashiv Rane & Anr. The matter concerns a settlement between the appellant (also referred to as 'Corporate Debtor') and Respondent No. 1, which is on record. However, certain terms of the settlement have not been complied with, leading Respondent No. 1 to file an application before the Adjudicating Authority under Section 7 of the IBC, 2016, which was admitted by the impugned order.
Nalin Virji Shah is the appellant in a Company Appeal (AT) (Ins) No. 558 of 2021. Satish Sadashiv Rane & Anr. are the respondents. The case is before the National Company Law Appellate Tribunal, New Delhi. A settlement was reached between the appellant (also referred to as 'Corporate Debtor') and Respondent No. 1. However, certain terms of the settlement were not complied with. Consequently, Respondent No. 1 filed an application under Section 7 of the IBC, 2016, before the Adjudicating Authority. The Adjudicating Authority admitted the application. The Committee of Creditors (CoC) has not been constituted as of the hearing date. The parties are exploring the possibility of further settlement.
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Court heard Mr. Krishnendu Datta, Ld. Sr.…
Respondent No. 1 filed an application before…
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The case involves a Company Appeal (AT) (Ins) No. 558 of 2021 before the National Company Law Appellate Tribunal, New Delhi. The appellant is Nalin Virji Shah, and the respondents are Satish Sadashiv Rane & Anr. The matter concerns a settlement between the appellant (also referred to as 'Corporate Debtor') and Respondent No. 1, which is on record. However, certain terms of the settlement have not been complied with, leading Respondent No. 1 to file an application before the Adjudicating Authority under Section 7 of the IBC, 2016, which was admitted by the impugned order.
Nalin Virji Shah is the appellant in a Company Appeal (AT) (Ins) No. 558 of 2021. Satish Sadashiv Rane & Anr. are the respondents. The case is before the National Company Law Appellate Tribunal, New Delhi. A settlement was reached between the appellant (also referred to as 'Corporate Debtor') and Respondent No. 1. However, certain terms of the settlement were not complied with. Consequently, Respondent No. 1 filed an application under Section 7 of the IBC, 2016, before the Adjudicating Authority. The Adjudicating Authority admitted the application. The Committee of Creditors (CoC) has not been constituted as of the hearing date. The parties are exploring the possibility of further settlement.
Court heard Mr. Krishnendu Datta, Ld. Sr.…
Respondent No. 1 filed an application before…
Sign in to view related legal provisions.