The case involves an appeal against the order dated 04.04.2024 passed by the Adjudicating Authority (National Company Law Tribunal), Indore Bench, Court No.1, which admitted a Section 7 application filed by Small Industries Development Bank of India. The appellant, Shri Kapil Mittal, is the Suspended Director of Alumass Pvt. Ltd. (formerly known as Tirupati Balaji Extrusion Pvt. Ltd.).
Shri Kapil Mittal, the Suspended Director of Alumass Pvt. Ltd. (formerly known as Tirupati Balaji Extrusion Pvt. Ltd.), filed an appeal against the order dated 04.04.2024 passed by the Adjudicating Authority (NCLT, Indore Bench) admitting a Section 7 application filed by Small Industries Development Bank of India. Subsequent to the order, the Financial Creditor approved an OTS, and the entire payment under the OTS was made by 12.04.2024. The Financial Creditor's counsel acknowledged the settlement and payment. The NCLAT considered these facts and decided to set aside the order initiating CIRP.
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The Adjudicating Authority (NCLT, Indore…
The Financial Creditor…
The case involves an appeal against the order dated 04.04.2024 passed by the Adjudicating Authority (National Company Law Tribunal), Indore Bench, Court No.1, which admitted a Section 7 application filed by Small Industries Development Bank of India. The appellant, Shri Kapil Mittal, is the Suspended Director of Alumass Pvt. Ltd. (formerly known as Tirupati Balaji Extrusion Pvt. Ltd.).
Shri Kapil Mittal, the Suspended Director of Alumass Pvt. Ltd. (formerly known as Tirupati Balaji Extrusion Pvt. Ltd.), filed an appeal against the order dated 04.04.2024 passed by the Adjudicating Authority (NCLT, Indore Bench) admitting a Section 7 application filed by Small Industries Development Bank of India. Subsequent to the order, the Financial Creditor approved an OTS, and the entire payment under the OTS was made by 12.04.2024. The Financial Creditor's counsel acknowledged the settlement and payment. The NCLAT considered these facts and decided to set aside the order initiating CIRP.
The Adjudicating Authority (NCLT, Indore…
The Financial Creditor…