The case involves an appeal against an order dated 09.02.2023 passed by the National Company Law Tribunal (NCLT), New Delhi Bench (Court-III) in IB-456(ND)/2018. The appellant, Owners Welfare Association of Universal Trade Tower ('UTT'), is aggrieved by the NCLT's order. The corporate insolvency resolution process (CIRP) was initiated against Universal Buildwell Pvt. Ltd. on 03.07.2018. The Resolution Professional (RP) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) seeking the appointment of a Local Commissioner/Technical person to identify and report the actual position of the data compiled by the RP. The RP also filed an application stating that clarity is needed regarding the sold, unsold, and mortgaged areas to finalize the
…The Owners Welfare Association of Universal Trade Tower ('UTT') filed an appeal against the order dated 09.02.2023 passed by the National Company Law Tribunal (NCLT), New Delhi Bench (Court-III) in IB-456(ND)/2018. The Corporate Insolvency Resolution Process (‘CIRP') was initiated against Universal Buildwell Pvt. Ltd. on 03.07.2018, based on an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('Code') by Ms. Pallavi Joshi Bakhru (Financial Creditor). The Tribunal appointed Mr. Atul Kansal as the Resolution Professional of the Corporate Debtor to complete the CIRP Process. The Resolution Professional filed an application under Section 60(5) of the Code bearing CA-500/2019 seeking the appointment of a Local Commissioner/Technical person to
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Corporate Insolvency Resolution Process…
Order passed by National Company Law…
The case involves an appeal against an order dated 09.02.2023 passed by the National Company Law Tribunal (NCLT), New Delhi Bench (Court-III) in IB-456(ND)/2018. The appellant, Owners Welfare Association of Universal Trade Tower ('UTT'), is aggrieved by the NCLT's order. The corporate insolvency resolution process (CIRP) was initiated against Universal Buildwell Pvt. Ltd. on 03.07.2018. The Resolution Professional (RP) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) seeking the appointment of a Local Commissioner/Technical person to identify and report the actual position of the data compiled by the RP. The RP also filed an application stating that clarity is needed regarding the sold, unsold, and mortgaged areas to finalize the
…The Owners Welfare Association of Universal Trade Tower ('UTT') filed an appeal against the order dated 09.02.2023 passed by the National Company Law Tribunal (NCLT), New Delhi Bench (Court-III) in IB-456(ND)/2018. The Corporate Insolvency Resolution Process (‘CIRP') was initiated against Universal Buildwell Pvt. Ltd. on 03.07.2018, based on an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('Code') by Ms. Pallavi Joshi Bakhru (Financial Creditor). The Tribunal appointed Mr. Atul Kansal as the Resolution Professional of the Corporate Debtor to complete the CIRP Process. The Resolution Professional filed an application under Section 60(5) of the Code bearing CA-500/2019 seeking the appointment of a Local Commissioner/Technical person to
…Corporate Insolvency Resolution Process…
Order passed by National Company Law…