This is a Company Appeal (AT) (Insolvency) No. 1300 of 2024 filed against the order dated 04.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-IV admitting Section 7 application filed by 34 Financial Creditors holding 25 units. The NOIDA Authority has cancelled the allotment of land on which the project was constructed, leading to a Writ Petition No. 56336 of 2005 filed by the appellant's sister concern, which is pending consideration.
Vijay Dixit, the suspended director of Senior Builders Ltd., filed an appeal against an order dated 04.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, which admitted a Section 7 application filed by 34 Financial Creditors. The NOIDA Authority had cancelled the land allotment for the project, leading to a pending writ petition by the appellant's sister concern. The appellant offered to deposit the amount taken from allottees with 9% interest, where the principal amount was Rs. 11,94,29,229/-. The court directed the appellant to file an affidavit with the tabulated amount and deposit it in two monthly installments. The first deposit is to be made on or before 12.08.2024 and the second on or before 12.09.2024.
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The Adjudicating Authority (National Company…
The NOIDA Authority…
This is a Company Appeal (AT) (Insolvency) No. 1300 of 2024 filed against the order dated 04.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-IV admitting Section 7 application filed by 34 Financial Creditors holding 25 units. The NOIDA Authority has cancelled the allotment of land on which the project was constructed, leading to a Writ Petition No. 56336 of 2005 filed by the appellant's sister concern, which is pending consideration.
Vijay Dixit, the suspended director of Senior Builders Ltd., filed an appeal against an order dated 04.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, which admitted a Section 7 application filed by 34 Financial Creditors. The NOIDA Authority had cancelled the land allotment for the project, leading to a pending writ petition by the appellant's sister concern. The appellant offered to deposit the amount taken from allottees with 9% interest, where the principal amount was Rs. 11,94,29,229/-. The court directed the appellant to file an affidavit with the tabulated amount and deposit it in two monthly installments. The first deposit is to be made on or before 12.08.2024 and the second on or before 12.09.2024.
The Adjudicating Authority (National Company…
The NOIDA Authority…