The case involves an appeal against the order dated 25.01.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Court – 2, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by the Operational Creditor (Respondent). The appellant filed an appeal against this order. During the proceedings, both parties filed I.A. No. 1146/2022, stating that a settlement had been reached via a Settlement Agreement dated 08.04.2022. The appellant's counsel submitted that the parties were on a negotiation table, and the appeal was adjourned. The Interim Resolution Professional (IRP) stated that they had not been paid any fees or expenses. The appellant's counsel referred to Para 9 of the Settlement Agreement,
…Uttamkumar Motiramji Shambharkar (Appellant) filed an appeal against the order dated 25.01.2022 passed by the Adjudicating Authority (NCLT), Mumbai, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by Mithilanchal Constructions (Respondent). During the proceedings, both parties filed I.A. No. 1146/2022, stating that a settlement had been reached via a Settlement Agreement dated 08.04.2022. The appellant's counsel submitted that the parties were on a negotiation table. The Interim Resolution Professional (IRP) stated that they had not been paid any fees or expenses. The appellant had deposited Rs. 1,49,450 under the orders of the Tribunal dated 08.02.2022.
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The Adjudicating Authority (National Company…
Appellant deposited an…
The case involves an appeal against the order dated 25.01.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Court – 2, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by the Operational Creditor (Respondent). The appellant filed an appeal against this order. During the proceedings, both parties filed I.A. No. 1146/2022, stating that a settlement had been reached via a Settlement Agreement dated 08.04.2022. The appellant's counsel submitted that the parties were on a negotiation table, and the appeal was adjourned. The Interim Resolution Professional (IRP) stated that they had not been paid any fees or expenses. The appellant's counsel referred to Para 9 of the Settlement Agreement,
…Uttamkumar Motiramji Shambharkar (Appellant) filed an appeal against the order dated 25.01.2022 passed by the Adjudicating Authority (NCLT), Mumbai, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by Mithilanchal Constructions (Respondent). During the proceedings, both parties filed I.A. No. 1146/2022, stating that a settlement had been reached via a Settlement Agreement dated 08.04.2022. The appellant's counsel submitted that the parties were on a negotiation table. The Interim Resolution Professional (IRP) stated that they had not been paid any fees or expenses. The appellant had deposited Rs. 1,49,450 under the orders of the Tribunal dated 08.02.2022.
The Adjudicating Authority (National Company…
Appellant deposited an…