The appeal challenges an order dated 2021-09-01 by the National Company Law Tribunal, New Delhi, which rejected an application (IVNP-05/2021) filed in IB-2582 (ND) 2019. The appellant sought permission to intervene in IA No. 655 (ND)/2021 and requested the Resolution Professional to provide a copy of IA No. 655 (ND)/2021. The NCLT declined these requests, leading to the current appeal.
The Appellant, Rupinder Singh Gill, entered into an Agreement to sell dated 2018-10-08 with the Corporate Debtor, Challengerz Websolutions Pvt. Ltd., to purchase its entire shareholding. The Corporate Debtor was required to obtain necessary permissions and approvals within 11 months, after which the Appellant would pay the balance consideration. However, the Corporate Debtor initiated proceedings against the Appellant under Section 241-242 of the Companies Act, 2013. The Adjudicating Authority passed an interim order on 2019-04-05, granting 'status quo' on shareholding. Subsequently, the Corporate Debtor entered into 'Insolvency' on 2019-12-17. The Resolution Professional filed an application (IA No. 655/2021) seeking approval of the Resolution Plan of M/s. Ace
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Appellant entered into an Agreement to sell…
The Adjudicating…
The appeal challenges an order dated 2021-09-01 by the National Company Law Tribunal, New Delhi, which rejected an application (IVNP-05/2021) filed in IB-2582 (ND) 2019. The appellant sought permission to intervene in IA No. 655 (ND)/2021 and requested the Resolution Professional to provide a copy of IA No. 655 (ND)/2021. The NCLT declined these requests, leading to the current appeal.
The Appellant, Rupinder Singh Gill, entered into an Agreement to sell dated 2018-10-08 with the Corporate Debtor, Challengerz Websolutions Pvt. Ltd., to purchase its entire shareholding. The Corporate Debtor was required to obtain necessary permissions and approvals within 11 months, after which the Appellant would pay the balance consideration. However, the Corporate Debtor initiated proceedings against the Appellant under Section 241-242 of the Companies Act, 2013. The Adjudicating Authority passed an interim order on 2019-04-05, granting 'status quo' on shareholding. Subsequently, the Corporate Debtor entered into 'Insolvency' on 2019-12-17. The Resolution Professional filed an application (IA No. 655/2021) seeking approval of the Resolution Plan of M/s. Ace
…Appellant entered into an Agreement to sell…
The Adjudicating…