The case is a Company Appeal (AT) (Insolvency) No. 110 of 2019 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appeal involves Sonal Jayesh Shah as the Appellant and Sanjeev Gupta & Anr. as the Respondent. The matter pertains to a settlement reached between the parties after an impugned order dated 2019-01-21. The entire amount has been paid to Mr. Sanjeev Gupta, the Operational Creditor.
Sonal Jayesh Shah filed an appeal against Sanjeev Gupta & Anr. before the NCLAT. After an impugned order dated 2019-01-21, the parties reached a settlement on 2019-01-23, with the Appellant paying the entire amount due to Sanjeev Gupta, the Operational Creditor. The Respondent's counsel confirmed the full and final settlement. An Interim Resolution Professional (IRP) had been appointed, but a Committee of Creditors (CoC) had not been constituted. The NCLAT referenced a Supreme Court judgement stating that when a CoC is not yet formed, a party can directly approach the NCLT. The NCLAT directed the IRP not to issue a public announcement or constitute a CoC without prior permission and to ensure the company's continued operation and timely payments to employees and
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The case is a Company Appeal (AT) (Insolvency) No. 110 of 2019 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appeal involves Sonal Jayesh Shah as the Appellant and Sanjeev Gupta & Anr. as the Respondent. The matter pertains to a settlement reached between the parties after an impugned order dated 2019-01-21. The entire amount has been paid to Mr. Sanjeev Gupta, the Operational Creditor.
Sonal Jayesh Shah filed an appeal against Sanjeev Gupta & Anr. before the NCLAT. After an impugned order dated 2019-01-21, the parties reached a settlement on 2019-01-23, with the Appellant paying the entire amount due to Sanjeev Gupta, the Operational Creditor. The Respondent's counsel confirmed the full and final settlement. An Interim Resolution Professional (IRP) had been appointed, but a Committee of Creditors (CoC) had not been constituted. The NCLAT referenced a Supreme Court judgement stating that when a CoC is not yet formed, a party can directly approach the NCLT. The NCLAT directed the IRP not to issue a public announcement or constitute a CoC without prior permission and to ensure the company's continued operation and timely payments to employees and
…Date of the i…
Parties settled the…
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