The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which directed the Appellant, Vipul Limited, to provide certain details regarding maintenance amounts outstanding from allottees. The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/s. Vipul Greens Residents Welfare Associates, alleging non-transfer of 'Interest Bearing Maintenance Security Deposit' (IBMS). The Adjudicating Authority directed Vipul Limited to provide details of the maintenance amount outstanding in respect of 384 allottees who are members of the RWA/Applicant, including separate details of those not in default, and the outstanding liability as per actuals without interest or penalty.
Vipul Limited, an infrastructure company, faced an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by M/s. Vipul Greens Residents Welfare Associates, alleging non-transfer of 'Interest Bearing Maintenance Security Deposit' (IBMS). The Adjudicating Authority (National Company Law Tribunal) directed Vipul Limited to provide details of maintenance amounts outstanding from 384 allottees, including separate details of those not in default. The Adjudicating Authority's order was challenged by Vipul Limited. The Respondent argued that the Corporate Debtor was using dilatory tactics. The Supreme Court's decision in 'Innoventive Industries Ltd. v. ICICI Bank' was cited regarding the process under Section 7. An ordinance amending the IBC was
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The Appellant- ‘Vipul Limited', an…
The Adjudicating Authority (National Company…
The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which directed the Appellant, Vipul Limited, to provide certain details regarding maintenance amounts outstanding from allottees. The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/s. Vipul Greens Residents Welfare Associates, alleging non-transfer of 'Interest Bearing Maintenance Security Deposit' (IBMS). The Adjudicating Authority directed Vipul Limited to provide details of the maintenance amount outstanding in respect of 384 allottees who are members of the RWA/Applicant, including separate details of those not in default, and the outstanding liability as per actuals without interest or penalty.
Vipul Limited, an infrastructure company, faced an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by M/s. Vipul Greens Residents Welfare Associates, alleging non-transfer of 'Interest Bearing Maintenance Security Deposit' (IBMS). The Adjudicating Authority (National Company Law Tribunal) directed Vipul Limited to provide details of maintenance amounts outstanding from 384 allottees, including separate details of those not in default. The Adjudicating Authority's order was challenged by Vipul Limited. The Respondent argued that the Corporate Debtor was using dilatory tactics. The Supreme Court's decision in 'Innoventive Industries Ltd. v. ICICI Bank' was cited regarding the process under Section 7. An ordinance amending the IBC was
…The Appellant- ‘Vipul Limited', an…
The Adjudicating Authority (National Company…