The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), New Delhi, which rejected the appellants' application for condonation of delay in filing their claim in the Corporate Insolvency Resolution Process (CIRP) of Wianxx Impex Pvt. Ltd. The appellants, Prem Kumar Khatri and Charu Arora, had entered into a Memorandum of Understanding (MoU) with Wianxx Impex Pvt. Ltd. in 2014, providing a loan of Rs. 10 lakhs each. The appellants filed their claim with the Resolution Professional (RP) on 01.03.2023, which was rejected due to a significant delay of 1270 days. The NCLT also rejected their application for condonation of delay, leading to the present appeal before the NCLAT.
Prem Kumar Khatri and Charu Arora (Appellants) provided a loan of Rs. 10 lakhs each to Wianxx Impex Pvt. Ltd. (Respondent No. 1) in 2014, evidenced by a Memorandum of Understanding (MoU) dated 12.07.2014. The MoU stipulated that the Appellants would be provided with security in the form of earmarked office blocks in the Respondent's upcoming project. The Respondent No. 1 agreed to pay interest at 2.5% per month. The MoU was extended on 27.11.2015 and 09.04.2016. Wianxx Impex Pvt. Ltd. was admitted into Corporate Insolvency Resolution Process (CIRP). The Appellants filed their claim with the Resolution Professional (RP) on 01.03.2023, which was rejected by the RP. The NCLT rejected the Appellants' application for condonation of delay in filing the claim, citing a delay
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Appellants entered into a Memorandum of…
The said MoU were extended subsequently by…
The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), New Delhi, which rejected the appellants' application for condonation of delay in filing their claim in the Corporate Insolvency Resolution Process (CIRP) of Wianxx Impex Pvt. Ltd. The appellants, Prem Kumar Khatri and Charu Arora, had entered into a Memorandum of Understanding (MoU) with Wianxx Impex Pvt. Ltd. in 2014, providing a loan of Rs. 10 lakhs each. The appellants filed their claim with the Resolution Professional (RP) on 01.03.2023, which was rejected due to a significant delay of 1270 days. The NCLT also rejected their application for condonation of delay, leading to the present appeal before the NCLAT.
Prem Kumar Khatri and Charu Arora (Appellants) provided a loan of Rs. 10 lakhs each to Wianxx Impex Pvt. Ltd. (Respondent No. 1) in 2014, evidenced by a Memorandum of Understanding (MoU) dated 12.07.2014. The MoU stipulated that the Appellants would be provided with security in the form of earmarked office blocks in the Respondent's upcoming project. The Respondent No. 1 agreed to pay interest at 2.5% per month. The MoU was extended on 27.11.2015 and 09.04.2016. Wianxx Impex Pvt. Ltd. was admitted into Corporate Insolvency Resolution Process (CIRP). The Appellants filed their claim with the Resolution Professional (RP) on 01.03.2023, which was rejected by the RP. The NCLT rejected the Appellants' application for condonation of delay in filing the claim, citing a delay
…Appellants entered into a Memorandum of…
The said MoU were extended subsequently by…