The appeals arise from an order dated November 13, 2024, passed by the National Company Law Tribunal, Chandigarh Bench, dismissing the Restoration Application filed by the Appellants. Two Appeals are interrelated and, therefore, are being taken up together.
Suprio Ghosh and Nilanjana Ghosh filed applications under Section 94 of the Insolvency and Bankruptcy Code, 2016 for initiation of insolvency resolution process.
The Adjudicating Authority dismissed the Restoration Application due to the Appellant's non-appearance on multiple dates.
The Appellant claimed that the bank misled the Adjudicating Authority by giving incorrect dates of non-appearance.
The Respondent Bank filed a writ petition seeking physical possession of the property of the Applicant under Section 14 of the SARFAESI Act.
The Adjudicating Authority noted that the Appellant had been consecutively absent for three dates and was attempting to stall the proceedings under the SARFAESI Act.
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Order passed by the Adjudicating Authority…
Application No. C.P (IB) No.32/CHD/HRY/2023…
The appeals arise from an order dated November 13, 2024, passed by the National Company Law Tribunal, Chandigarh Bench, dismissing the Restoration Application filed by the Appellants. Two Appeals are interrelated and, therefore, are being taken up together.
Suprio Ghosh and Nilanjana Ghosh filed applications under Section 94 of the Insolvency and Bankruptcy Code, 2016 for initiation of insolvency resolution process.
The Adjudicating Authority dismissed the Restoration Application due to the Appellant's non-appearance on multiple dates.
The Appellant claimed that the bank misled the Adjudicating Authority by giving incorrect dates of non-appearance.
The Respondent Bank filed a writ petition seeking physical possession of the property of the Applicant under Section 14 of the SARFAESI Act.
The Adjudicating Authority noted that the Appellant had been consecutively absent for three dates and was attempting to stall the proceedings under the SARFAESI Act.
…Order passed by the Adjudicating Authority…
Application No. C.P (IB) No.32/CHD/HRY/2023…