The case involves multiple appeals against an order passed by the National Company Law Tribunal (NCLT), Bench-IV, New Delhi. The NCLT order pertained to three applications: IA No. 2902/ND/2021 and IA No. 2482/ND/2022 filed by Orris Infrastructure Private Limited, which were partly accepted, and IA No. 1663/ND/2021 filed by Three C Universal Developers Pvt. Ltd., which was dismissed. The initial application, IB-2721/ND/2019, was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Straight Edge Contract Pvt. Ltd against Three C Shelters Pvt. Ltd. for the resolution of an amount of Rs. 29,95,91,034/- along with 24% interest. The NCLT initially allowed the Section 9 petition but later corrected typographical errors and uploaded the detailed order. During
…Straight Edge Contracts Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Three C Shelters Pvt. Ltd. for the resolution of an amount of Rs. 29,95,91,034/- along with 24% interest. The Adjudicating Authority initially allowed the petition. During the pendency of the resolution process, Orris Infrastructure Private Limited filed IA No. 2902/ND/2021 and IA No. 2482/ND/2022, while Three C Universal Developers Pvt. Ltd. filed IA No. 1663/ND/2021. The Adjudicating Authority clubbed these applications and framed questions, including whether there was active collusion between Straight Edge Contracts Pvt. Ltd. and Three C Shelters Pvt. Ltd. in initiating CIRP proceedings. The Adjudicating Authority concluded that there was
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Order passed by the 'National Company Law…
The applicati…
The case involves multiple appeals against an order passed by the National Company Law Tribunal (NCLT), Bench-IV, New Delhi. The NCLT order pertained to three applications: IA No. 2902/ND/2021 and IA No. 2482/ND/2022 filed by Orris Infrastructure Private Limited, which were partly accepted, and IA No. 1663/ND/2021 filed by Three C Universal Developers Pvt. Ltd., which was dismissed. The initial application, IB-2721/ND/2019, was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Straight Edge Contract Pvt. Ltd against Three C Shelters Pvt. Ltd. for the resolution of an amount of Rs. 29,95,91,034/- along with 24% interest. The NCLT initially allowed the Section 9 petition but later corrected typographical errors and uploaded the detailed order. During
…Straight Edge Contracts Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Three C Shelters Pvt. Ltd. for the resolution of an amount of Rs. 29,95,91,034/- along with 24% interest. The Adjudicating Authority initially allowed the petition. During the pendency of the resolution process, Orris Infrastructure Private Limited filed IA No. 2902/ND/2021 and IA No. 2482/ND/2022, while Three C Universal Developers Pvt. Ltd. filed IA No. 1663/ND/2021. The Adjudicating Authority clubbed these applications and framed questions, including whether there was active collusion between Straight Edge Contracts Pvt. Ltd. and Three C Shelters Pvt. Ltd. in initiating CIRP proceedings. The Adjudicating Authority concluded that there was
…Order passed by the 'National Company Law…
The applicati…