The case involves an appeal against the initiation of insolvency proceedings. The appellant argues that there is no debt payable by the Corporate Debtor to the Respondent (Financial Creditor), and therefore, the question of default does not arise. The appellant refers to Form-1, particularly Part IV and Part V, to suggest that the document of debt and default has been enclosed. However, the respondent's submission, Annexure-A, referred to in Part IV and Part V, is argued to not be a document relating to debt and default and lacks the signature of a competent authority.
Sh. Ranvir Ranjit, the Appellant, filed an appeal against Vijay R Vakharia & Ors., the Respondents, regarding an insolvency matter. The Appellant contends that there is no outstanding debt payable by the 'Corporate Debtor' to the 'Financial Creditor' (Respondent), thus negating the basis for default. The Appellant references Form-1 (Page 137), specifically Part IV and Part V, asserting that the document of debt and default is enclosed. However, the Appellant argues that Annexure-A, referenced in Part IV and Part V, is not a valid document related to debt and default (Page 365) because it is a submission from the Respondent and lacks the signature of a competent authority. The 1st to 7th Respondents ('Financial Creditors') have already appeared. The court has
…Sign in to view the parties.
Learned Senior Counsel appeared on behalf of…
Deadline for filing…
Sign in to view related legal provisions.
The case involves an appeal against the initiation of insolvency proceedings. The appellant argues that there is no debt payable by the Corporate Debtor to the Respondent (Financial Creditor), and therefore, the question of default does not arise. The appellant refers to Form-1, particularly Part IV and Part V, to suggest that the document of debt and default has been enclosed. However, the respondent's submission, Annexure-A, referred to in Part IV and Part V, is argued to not be a document relating to debt and default and lacks the signature of a competent authority.
Sh. Ranvir Ranjit, the Appellant, filed an appeal against Vijay R Vakharia & Ors., the Respondents, regarding an insolvency matter. The Appellant contends that there is no outstanding debt payable by the 'Corporate Debtor' to the 'Financial Creditor' (Respondent), thus negating the basis for default. The Appellant references Form-1 (Page 137), specifically Part IV and Part V, asserting that the document of debt and default is enclosed. However, the Appellant argues that Annexure-A, referenced in Part IV and Part V, is not a valid document related to debt and default (Page 365) because it is a submission from the Respondent and lacks the signature of a competent authority. The 1st to 7th Respondents ('Financial Creditors') have already appeared. The court has
…Learned Senior Counsel appeared on behalf of…
Deadline for filing…
Sign in to view related legal provisions.