The appeal was filed against an order dated 02.02.2024, rejecting I.A. No. 380/2023 filed by the Appellant. An application was filed by the Bank of India under Section 7 against the Corporate Debtor, based on an Assignment Agreement dated 30.03.2022. ASREC was substituted and prosecuted the application, which the Adjudicating Authority admitted on 31.03.2023, appointing an Interim Resolution Professional. The Appellant filed an I.A. praying for recall of the admission order, which was rejected.
Paras Builders and Promoters filed an appeal against an order dated 02.02.2024, rejecting I.A. No. 380/2023. The I.A. was filed by the Appellant seeking recall of the order admitting Section 7 application. Bank of India had filed an application under Section 7 of IBC against the Corporate Debtor based on an Assignment Agreement dated 30.03.2022. Subsequently, ASREC was substituted and prosecuted the application. The Adjudicating Authority admitted the Section 7 application on 31.03.2023 and appointed an Interim Resolution Professional. The Appellant argued that the Assignment Agreement was challenged in civil court and that the Financial Creditor should have impleaded the Appellant in the Section 7 application. The Appellant also claimed that an OTS was undertaken and
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Order rejecting I.A.…
Date of the Assignment…
The appeal was filed against an order dated 02.02.2024, rejecting I.A. No. 380/2023 filed by the Appellant. An application was filed by the Bank of India under Section 7 against the Corporate Debtor, based on an Assignment Agreement dated 30.03.2022. ASREC was substituted and prosecuted the application, which the Adjudicating Authority admitted on 31.03.2023, appointing an Interim Resolution Professional. The Appellant filed an I.A. praying for recall of the admission order, which was rejected.
Paras Builders and Promoters filed an appeal against an order dated 02.02.2024, rejecting I.A. No. 380/2023. The I.A. was filed by the Appellant seeking recall of the order admitting Section 7 application. Bank of India had filed an application under Section 7 of IBC against the Corporate Debtor based on an Assignment Agreement dated 30.03.2022. Subsequently, ASREC was substituted and prosecuted the application. The Adjudicating Authority admitted the Section 7 application on 31.03.2023 and appointed an Interim Resolution Professional. The Appellant argued that the Assignment Agreement was challenged in civil court and that the Financial Creditor should have impleaded the Appellant in the Section 7 application. The Appellant also claimed that an OTS was undertaken and
…Order rejecting I.A.…
Date of the Assignment…