The case involves an appeal against an order dated 19th February 2021, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was filed by the Respondent, Samata Nagari Sahkari Patsantha Maryadit, against the Corporate Debtor, Kalyani Education Pvt. Ltd. The Appellant, Ravindra G. Sapkal, promoter/erstwhile Chairman and MD of the Corporate Debtor, filed the appeal, claiming that the application was time-barred and that principles of natural justice were violated.
Ravindra G. Sapkal, the promoter/erstwhile Chairman and MD of Kalyani Education Pvt. Ltd. (Corporate Debtor), filed an appeal against the order of the Adjudicating Authority (NCLT, Mumbai Bench) which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was filed by Samata Nagari Sahkari Patsantha Maryadit (Financial Creditor). The Corporate Debtor had availed credit facilities, including a Working Capital Term Loan of Rs.5 Crore, from the Financial Creditor. The Financial Creditor granted a consortium loan vide sanction letter dated 25.10.2013. The Corporate Debtor defaulted on repayments. The Financial Creditor filed an application under Section 7 of the IBC on 22.11.2019. The Appellant claimed that the
…Sign in to view the parties.
Financial Creditor…
The date of de…
The case involves an appeal against an order dated 19th February 2021, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was filed by the Respondent, Samata Nagari Sahkari Patsantha Maryadit, against the Corporate Debtor, Kalyani Education Pvt. Ltd. The Appellant, Ravindra G. Sapkal, promoter/erstwhile Chairman and MD of the Corporate Debtor, filed the appeal, claiming that the application was time-barred and that principles of natural justice were violated.
Ravindra G. Sapkal, the promoter/erstwhile Chairman and MD of Kalyani Education Pvt. Ltd. (Corporate Debtor), filed an appeal against the order of the Adjudicating Authority (NCLT, Mumbai Bench) which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was filed by Samata Nagari Sahkari Patsantha Maryadit (Financial Creditor). The Corporate Debtor had availed credit facilities, including a Working Capital Term Loan of Rs.5 Crore, from the Financial Creditor. The Financial Creditor granted a consortium loan vide sanction letter dated 25.10.2013. The Corporate Debtor defaulted on repayments. The Financial Creditor filed an application under Section 7 of the IBC on 22.11.2019. The Appellant claimed that the
…Financial Creditor…
The date of de…