The case involves an appeal against an order dated 07.01.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Mumbai) in IA No.500/2020 in CP No.2714/2018. The Adjudicating Authority rejected the interlocutory petition filed by the Appellant. The appellant, Techengg Project Services & Equipments (I) Pvt Ltd, had previously filed a petition under Section 7 of the IBC against Ariisto Developers Pvt Ltd (Respondent No.2) for initiating Corporate Insolvency Resolution Process (CIRP) due to non-payment of corporate debt. However, before admission of the petition, an agreement was entered into between the Appellant and the Corporate Debtor based on Consent Terms executed on 19th July, 2018, leading to the withdrawal of the petition.
…Techengg Project Services & Equipments (I) Pvt Ltd (Appellant) filed an application against Jayesh Sanghrajka & Anr (Respondent), who is the Resolution Professional of Ariisto Developers Pvt. Ltd. (Corporate Debtor). The Appellant had previously filed a Section 7 IBC petition against Ariisto Developers for a debt of Rs. 10 crores plus Rs. 4 crores interest. Before admission, a consent agreement was reached on July 19, 2018, with Rs. 10 crores paid upfront and Rs. 2 crores to be paid later. The initial petition was withdrawn. The Consent Terms included Clause 1(g) regarding payment and Clause 1(h) regarding TDS deduction disputes. The Appellant claimed the Corporate Debtor breached the agreement by not paying the full Rs. 2 crores. The Appellant sought to revive
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The Appellant withdrew…
The case involves an appeal against an order dated 07.01.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Mumbai) in IA No.500/2020 in CP No.2714/2018. The Adjudicating Authority rejected the interlocutory petition filed by the Appellant. The appellant, Techengg Project Services & Equipments (I) Pvt Ltd, had previously filed a petition under Section 7 of the IBC against Ariisto Developers Pvt Ltd (Respondent No.2) for initiating Corporate Insolvency Resolution Process (CIRP) due to non-payment of corporate debt. However, before admission of the petition, an agreement was entered into between the Appellant and the Corporate Debtor based on Consent Terms executed on 19th July, 2018, leading to the withdrawal of the petition.
…Techengg Project Services & Equipments (I) Pvt Ltd (Appellant) filed an application against Jayesh Sanghrajka & Anr (Respondent), who is the Resolution Professional of Ariisto Developers Pvt. Ltd. (Corporate Debtor). The Appellant had previously filed a Section 7 IBC petition against Ariisto Developers for a debt of Rs. 10 crores plus Rs. 4 crores interest. Before admission, a consent agreement was reached on July 19, 2018, with Rs. 10 crores paid upfront and Rs. 2 crores to be paid later. The initial petition was withdrawn. The Consent Terms included Clause 1(g) regarding payment and Clause 1(h) regarding TDS deduction disputes. The Appellant claimed the Corporate Debtor breached the agreement by not paying the full Rs. 2 crores. The Appellant sought to revive
…The Appellant and…
The Appellant withdrew…