The Corporate Debtor filed an appeal challenging the order dated 2024-12-13 passed by the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench) in C.P. (IB) No.327/Chd/Pb/2022. The Respondent filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Adjudicating Authority directed the parties to address the submissions on the maintainability of the Application, as the Corporate Debtor raised objections regarding its maintainability. The Adjudicating Authority held the Application maintainable and directed the matter to be listed for further consideration.
Pioneer Urban Land & Infrastructure Ltd. (Corporate Debtor) filed an appeal against the order of the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench) which held an application filed by Presidia Araya Residents Welfare Association (Respondent) under Section 7 of the Insolvency and Bankruptcy Code, 2016, as maintainable. The Adjudicating Authority directed parties to address the maintainability of the application due to objections raised by the Corporate Debtor. The Appellant argued that the Adjudicating Authority should not have considered other issues while considering maintainability. The Respondent argued that the Adjudicating Authority provided ample opportunity to address the issue of maintainability. The court noted that the Supreme
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The Corporate Debtor filed an appeal challenging the order dated 2024-12-13 passed by the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench) in C.P. (IB) No.327/Chd/Pb/2022. The Respondent filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Adjudicating Authority directed the parties to address the submissions on the maintainability of the Application, as the Corporate Debtor raised objections regarding its maintainability. The Adjudicating Authority held the Application maintainable and directed the matter to be listed for further consideration.
Pioneer Urban Land & Infrastructure Ltd. (Corporate Debtor) filed an appeal against the order of the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench) which held an application filed by Presidia Araya Residents Welfare Association (Respondent) under Section 7 of the Insolvency and Bankruptcy Code, 2016, as maintainable. The Adjudicating Authority directed parties to address the maintainability of the application due to objections raised by the Corporate Debtor. The Appellant argued that the Adjudicating Authority should not have considered other issues while considering maintainability. The Respondent argued that the Adjudicating Authority provided ample opportunity to address the issue of maintainability. The court noted that the Supreme
…The Adjudicating Authority (National Company…
The Corporate Debtor…
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