The case involves an application (I.A. No. 966 of 2021) filed by State Bank of India (SBI) in Company Appeal (AT) (Insolvency) No. 1496 of 2019. The appeal was originally filed by Durga Prasad Agarwal, who later expired, and his legal heirs were substituted. The appeal arose from an order passed by the National Company Law Tribunal (NCLT), Kolkata Bench, which admitted a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by Limtex Tea & Industries Limited against Shri Bihariji Cold Rollers (P) Limited (Corporate Debtor). The NCLAT allowed the appeal and set aside the NCLT order, releasing the Corporate Debtor from the Corporate Insolvency Resolution Process (CIRP). SBI's application sought clarification regarding the handing over of certain
…Durga Prasad Agarwal initially filed Company Appeal (AT) (Insolvency) No. 1496 of 2019, which was related to a CIRP initiated against Shri Bihariji Cold Rollers (P) Limited (Corporate Debtor) based on a Section 7 petition filed by Limtex Tea & Industries Limited. Durga Prasad Agarwal passed away, and his legal heirs (Smt. Sangita Agarwal, Ankur Agarwal, and Harsh Agarwal) were substituted in the appeal. The NCLAT allowed the appeal on 03.03.2021, setting aside the NCLT order that had initiated CIRP. State Bank of India (SBI), a financial creditor, filed I.A. No. 966 of 2021 seeking clarification regarding certain land. SBI claimed that the land was mortgaged to them, they had taken symbolic possession under the SARFAESI Act on 22.09.2015, and the lease to the
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Limtex Tea and Industries Limited filed a…
The petition under Section 7 was admitted, and…
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The case involves an application (I.A. No. 966 of 2021) filed by State Bank of India (SBI) in Company Appeal (AT) (Insolvency) No. 1496 of 2019. The appeal was originally filed by Durga Prasad Agarwal, who later expired, and his legal heirs were substituted. The appeal arose from an order passed by the National Company Law Tribunal (NCLT), Kolkata Bench, which admitted a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by Limtex Tea & Industries Limited against Shri Bihariji Cold Rollers (P) Limited (Corporate Debtor). The NCLAT allowed the appeal and set aside the NCLT order, releasing the Corporate Debtor from the Corporate Insolvency Resolution Process (CIRP). SBI's application sought clarification regarding the handing over of certain
…Durga Prasad Agarwal initially filed Company Appeal (AT) (Insolvency) No. 1496 of 2019, which was related to a CIRP initiated against Shri Bihariji Cold Rollers (P) Limited (Corporate Debtor) based on a Section 7 petition filed by Limtex Tea & Industries Limited. Durga Prasad Agarwal passed away, and his legal heirs (Smt. Sangita Agarwal, Ankur Agarwal, and Harsh Agarwal) were substituted in the appeal. The NCLAT allowed the appeal on 03.03.2021, setting aside the NCLT order that had initiated CIRP. State Bank of India (SBI), a financial creditor, filed I.A. No. 966 of 2021 seeking clarification regarding certain land. SBI claimed that the land was mortgaged to them, they had taken symbolic possession under the SARFAESI Act on 22.09.2015, and the lease to the
…Limtex Tea and Industries Limited filed a…
The petition under Section 7 was admitted, and…
Sign in to view related legal provisions.