The case involves two appeals, Company Appeal (AT) (Insolvency) No. 879 of 2021 and Company Appeal (AT) (Insolvency) No. 270 of 2022, filed under Section 61(1) of the Insolvency and Bankruptcy Code, 2016, against a common Impugned Order dated 13.10.2021 passed by the National Company Law Tribunal, Jaipur Bench. The Adjudicating Authority admitted an application filed by Respondent No. 2 in Company Appeal (AT) (Insolvency) No. 879 of 2021 and Respondent No. 1 in Company Appeal (AT) (Insolvency) No. 270 of 2022, Shankar Khandelwal, as a Financial Creditor under Section 7 of the Code. Pankaj Khandelwal is the Appellant in Company Appeal (AT) (Ins.) No. 879 of 2021, and Rajasthan State Industrial Development and Investment Corporation Limited (RIICO) is the Appellant in
…1. Two appeals were filed against the Impugned Order dated 13.10.2021 passed by the NCLT, Jaipur Bench, admitting an application under Section 7 of the IBC.
2. CIRP was initiated against A. Gangwal Real Estate L.L.P, the Corporate Debtor.
3. The Corporate Debtor, a Limited Liability Partnership, was incorporated on August 5, 2014.
4. The Corporate Debtor was initially formed with Ajay Gangwal and his wife Rakhi Gangwal as designated partners.
5. Shankar Lal Khandelwal and his wife Guman Khandelwal were later admitted as designated partners.
6. The Appellant alleged that during Shankar Khandelwal's tenure as a Partner, the Corporate Debtor obtained a Loan from RIICO.
7. Shankar Khandelwal was arrested in the Syndicate Bank Scam.
8. The LLP Agreement dated 31.12.2015
Sign in to view the parties.
A. Gangwal Rea…
Shankar Lal Khandelwal…
The case involves two appeals, Company Appeal (AT) (Insolvency) No. 879 of 2021 and Company Appeal (AT) (Insolvency) No. 270 of 2022, filed under Section 61(1) of the Insolvency and Bankruptcy Code, 2016, against a common Impugned Order dated 13.10.2021 passed by the National Company Law Tribunal, Jaipur Bench. The Adjudicating Authority admitted an application filed by Respondent No. 2 in Company Appeal (AT) (Insolvency) No. 879 of 2021 and Respondent No. 1 in Company Appeal (AT) (Insolvency) No. 270 of 2022, Shankar Khandelwal, as a Financial Creditor under Section 7 of the Code. Pankaj Khandelwal is the Appellant in Company Appeal (AT) (Ins.) No. 879 of 2021, and Rajasthan State Industrial Development and Investment Corporation Limited (RIICO) is the Appellant in
…1. Two appeals were filed against the Impugned Order dated 13.10.2021 passed by the NCLT, Jaipur Bench, admitting an application under Section 7 of the IBC.
2. CIRP was initiated against A. Gangwal Real Estate L.L.P, the Corporate Debtor.
3. The Corporate Debtor, a Limited Liability Partnership, was incorporated on August 5, 2014.
4. The Corporate Debtor was initially formed with Ajay Gangwal and his wife Rakhi Gangwal as designated partners.
5. Shankar Lal Khandelwal and his wife Guman Khandelwal were later admitted as designated partners.
6. The Appellant alleged that during Shankar Khandelwal's tenure as a Partner, the Corporate Debtor obtained a Loan from RIICO.
7. Shankar Khandelwal was arrested in the Syndicate Bank Scam.
8. The LLP Agreement dated 31.12.2015
A. Gangwal Rea…
Shankar Lal Khandelwal…