The appeal was filed by Vijisan Jewels Pvt Ltd under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order dated 05.02.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. The Appellant sought to set aside the impugned order, direct the Liquidator to consider the appellant's offer to buy the factory premises, obtain a fresh valuation report of the Corporate Debtor, issue a fresh e-auction, allow the Appellant to continue using the factory premises until the sale is confirmed, give 45 days to vacate the premises after the sale, and waive the rent for the period April to November 2020 due to the lockdown.
Vijisan Jewels Pvt Ltd, the Appellant, filed an appeal against the order dated 05.02.2021 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, which is the Adjudicating Authority. The Appellant is a leave and license holder of the premises owned by Cimme Jewels Limited, the Corporate Debtor. Cimme Jewels Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on 18.04.2018, and subsequently, a liquidation order was passed on 25.03.2019. The Appellant sought to purchase the premises and requested directions to continue occupying the premises until the sale was finalized. The Adjudicating Authority rejected the Appellant's request. The Appellant had offered to buy the factory for Rs. 13 Crore, payable in installments, but this was not
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Corporate Insolvency Resolution Process (CIRP)…
Committee of Creditors (CoC) resolved with…
The appeal was filed by Vijisan Jewels Pvt Ltd under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order dated 05.02.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. The Appellant sought to set aside the impugned order, direct the Liquidator to consider the appellant's offer to buy the factory premises, obtain a fresh valuation report of the Corporate Debtor, issue a fresh e-auction, allow the Appellant to continue using the factory premises until the sale is confirmed, give 45 days to vacate the premises after the sale, and waive the rent for the period April to November 2020 due to the lockdown.
Vijisan Jewels Pvt Ltd, the Appellant, filed an appeal against the order dated 05.02.2021 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, which is the Adjudicating Authority. The Appellant is a leave and license holder of the premises owned by Cimme Jewels Limited, the Corporate Debtor. Cimme Jewels Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on 18.04.2018, and subsequently, a liquidation order was passed on 25.03.2019. The Appellant sought to purchase the premises and requested directions to continue occupying the premises until the sale was finalized. The Adjudicating Authority rejected the Appellant's request. The Appellant had offered to buy the factory for Rs. 13 Crore, payable in installments, but this was not
…Corporate Insolvency Resolution Process (CIRP)…
Committee of Creditors (CoC) resolved with…