The appeal was preferred by Mr. Nimish Mansukhlal Vora, Director and Shareholder of ‘Kavya Build-Con Private Limited' ('Corporate Debtor'), against the order dated 31st October 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai. The Adjudicating Authority had admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘I&B Code') filed by ‘M/s. S.J. Impex' ('Financial Creditor').
Mr. Nimish Mansukhlal Vora, Director and Shareholder of Kavya Build-Con Private Limited (Corporate Debtor), filed an appeal against the order of the Adjudicating Authority (NCLT), Mumbai, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 filed by M/s. S.J. Impex (Financial Creditor). The parties were negotiating for settlement after the application was filed but before its admission. The Financial Creditor had previously filed a Company Petition No. 1175 of 2017, which was dismissed based on consent terms. The earlier settlement terms stipulated that the Financial Creditor could only move for relief in case of two consecutive defaults. The Adjudicating Authority did not consider these facts. The Appellant provided email
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The Adjudicating Authority (National Company…
Mr. Nimish Mansukhlal Vora, Director and…
The appeal was preferred by Mr. Nimish Mansukhlal Vora, Director and Shareholder of ‘Kavya Build-Con Private Limited' ('Corporate Debtor'), against the order dated 31st October 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai. The Adjudicating Authority had admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘I&B Code') filed by ‘M/s. S.J. Impex' ('Financial Creditor').
Mr. Nimish Mansukhlal Vora, Director and Shareholder of Kavya Build-Con Private Limited (Corporate Debtor), filed an appeal against the order of the Adjudicating Authority (NCLT), Mumbai, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 filed by M/s. S.J. Impex (Financial Creditor). The parties were negotiating for settlement after the application was filed but before its admission. The Financial Creditor had previously filed a Company Petition No. 1175 of 2017, which was dismissed based on consent terms. The earlier settlement terms stipulated that the Financial Creditor could only move for relief in case of two consecutive defaults. The Adjudicating Authority did not consider these facts. The Appellant provided email
…The Adjudicating Authority (National Company…
Mr. Nimish Mansukhlal Vora, Director and…