These are two appeals raising common questions of law, heard together and decided by a common order. Company Appeal (AT) (Insolvency) No. 379 of 2021 was filed against the order dated 06.04.2021 passed by the NCLT, Ahmedabad Bench, admitting an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Simandhar Broking Limited. The appellant is a suspended director of the corporate debtor. Company Appeal (AT) (Insolvency) No. 749 of 2022 was filed by National Stock Exchange of India Limited challenging the order dated 25.11.2021 passed by NCLT, New Delhi, admitting an application under Section 7 against Astitva Capital Market Private Limited. The appellant was not a party to the proceedings but claimed to be an aggrieved person.
Nitin Pannalal Shah, the suspended director of Simandhar Broking Ltd., filed an appeal against the admission of a Section 7 application against the company. Vipul H Raja, the respondent, had opened a trading account with Simandhar Broking Ltd. and entered into an agreement on 21.12.2017. Raja incurred losses and filed a complaint with the Investor Grievance Resolution Panel (IGRP), claiming non-issuance of documents, non-receipt of funds, and unauthorized trading. The IGRP rejected the claim. Raja then filed a Section 7 application, which was admitted by the NCLT. The National Stock Exchange of India Limited (NSE) filed an appeal against the admission of a Section 7 application against Astitva Capital Market Private Limited. NSE had issued a show cause notice to Hemant
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These are two appeals raising common questions of law, heard together and decided by a common order. Company Appeal (AT) (Insolvency) No. 379 of 2021 was filed against the order dated 06.04.2021 passed by the NCLT, Ahmedabad Bench, admitting an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Simandhar Broking Limited. The appellant is a suspended director of the corporate debtor. Company Appeal (AT) (Insolvency) No. 749 of 2022 was filed by National Stock Exchange of India Limited challenging the order dated 25.11.2021 passed by NCLT, New Delhi, admitting an application under Section 7 against Astitva Capital Market Private Limited. The appellant was not a party to the proceedings but claimed to be an aggrieved person.
Nitin Pannalal Shah, the suspended director of Simandhar Broking Ltd., filed an appeal against the admission of a Section 7 application against the company. Vipul H Raja, the respondent, had opened a trading account with Simandhar Broking Ltd. and entered into an agreement on 21.12.2017. Raja incurred losses and filed a complaint with the Investor Grievance Resolution Panel (IGRP), claiming non-issuance of documents, non-receipt of funds, and unauthorized trading. The IGRP rejected the claim. Raja then filed a Section 7 application, which was admitted by the NCLT. The National Stock Exchange of India Limited (NSE) filed an appeal against the admission of a Section 7 application against Astitva Capital Market Private Limited. NSE had issued a show cause notice to Hemant
…Vipul H Raja entered…
Vipul H Raja started…