The case involves a Company Appeal (AT) (Insolvency) No. 1886 & 1887 of 2024 filed by SMFG India Credit Co. Ltd. (formerly Fullerton India Credit Co. Ltd.) against (CA) Kshitiz Gupta, RP Aditya Vidyut Appliances Pvt. Ltd. & Anr. The appeal challenges an order dated 2024-08-12 passed by the National Company Law Tribunal, Mumbai Bench, Court– II, which rejected the appellant's application in I.A. 1846/2024 in C.P. (IB) No. 193/MB/2019. The appellant, a dissenting Financial Creditor, sought a direction to be given Liquidation Value as per the value of the secured interest in the assets of the Corporate Debtor.
SMFG India Credit Co. Ltd. (formerly Fullerton India Credit Co. Ltd.) filed an appeal against an order passed by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT had rejected an application filed by SMFG India Credit Co. Ltd. in I.A. 1846/2024 in C.P. (IB) No. 193/MB/2019. SMFG India Credit Co. Ltd., being a dissenting Financial Creditor, sought a direction to be given Liquidation Value as per the value of the secured interest in the assets of the Corporate Debtor. The Adjudicating Authority had approved the Resolution Plan. The appellant argued that the value given to them is not in accordance with Liquidation Value as per Section 30(2)(b) of the Insolvency and Bankruptcy Code (IBC). The Resolution Professional argued that the value given to the
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Order issued regarding I.A. No. 6966 &…
Order passed by the Learned Adjudicating…
The case involves a Company Appeal (AT) (Insolvency) No. 1886 & 1887 of 2024 filed by SMFG India Credit Co. Ltd. (formerly Fullerton India Credit Co. Ltd.) against (CA) Kshitiz Gupta, RP Aditya Vidyut Appliances Pvt. Ltd. & Anr. The appeal challenges an order dated 2024-08-12 passed by the National Company Law Tribunal, Mumbai Bench, Court– II, which rejected the appellant's application in I.A. 1846/2024 in C.P. (IB) No. 193/MB/2019. The appellant, a dissenting Financial Creditor, sought a direction to be given Liquidation Value as per the value of the secured interest in the assets of the Corporate Debtor.
SMFG India Credit Co. Ltd. (formerly Fullerton India Credit Co. Ltd.) filed an appeal against an order passed by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT had rejected an application filed by SMFG India Credit Co. Ltd. in I.A. 1846/2024 in C.P. (IB) No. 193/MB/2019. SMFG India Credit Co. Ltd., being a dissenting Financial Creditor, sought a direction to be given Liquidation Value as per the value of the secured interest in the assets of the Corporate Debtor. The Adjudicating Authority had approved the Resolution Plan. The appellant argued that the value given to them is not in accordance with Liquidation Value as per Section 30(2)(b) of the Insolvency and Bankruptcy Code (IBC). The Resolution Professional argued that the value given to the
…Order issued regarding I.A. No. 6966 &…
Order passed by the Learned Adjudicating…