The appeal was filed by Rakesh Kumar Jain against the order dated 24.04.2023 passed by the Adjudicating Authority (National Company Law Tribunal-III, New Delhi) in CP (IB) No. 3083/ND/2019, which dismissed the petition for initiating CIRP against ADTV Communications Private Limited. The appellant claimed to be a financial creditor based on a decree obtained from the Delhi High Court.
Rakesh Kumar Jain filed an appeal against the order of the NCLT dismissing his petition to initiate CIRP against ADTV Communications Private Limited.
The appellant claimed to be a financial creditor based on a decree obtained from the Delhi High Court.
The respondent argued that the appellant was not a financial creditor and that the petition was barred by limitation.
The disputes between the parties were referred to mediation, resulting in a Settlement Agreement dated 11.09.2014.
The Respondent agreed to pay the Appellant an amount of ₹15,23,00,000/- in four separate installments through cheques issued for different dates.
A decree based on this Settlement Agreement was passed by the Hon'ble Delhi High Court in CS(OS) No. 2183/2013.
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The Adjudicating Authority (National Company Law…
The Appellate Tribunal allowed the appeal, set…
The appeal was filed by Rakesh Kumar Jain against the order dated 24.04.2023 passed by the Adjudicating Authority (National Company Law Tribunal-III, New Delhi) in CP (IB) No. 3083/ND/2019, which dismissed the petition for initiating CIRP against ADTV Communications Private Limited. The appellant claimed to be a financial creditor based on a decree obtained from the Delhi High Court.
Rakesh Kumar Jain filed an appeal against the order of the NCLT dismissing his petition to initiate CIRP against ADTV Communications Private Limited.
The appellant claimed to be a financial creditor based on a decree obtained from the Delhi High Court.
The respondent argued that the appellant was not a financial creditor and that the petition was barred by limitation.
The disputes between the parties were referred to mediation, resulting in a Settlement Agreement dated 11.09.2014.
The Respondent agreed to pay the Appellant an amount of ₹15,23,00,000/- in four separate installments through cheques issued for different dates.
A decree based on this Settlement Agreement was passed by the Hon'ble Delhi High Court in CS(OS) No. 2183/2013.
…The Adjudicating Authority (National Company Law…
The Appellate Tribunal allowed the appeal, set…