The case involves a Company Appeal (AT) (Insolvency) No. 1016 of 2019 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appellant, Vishal Gupta, and the respondent, Aanav Construction Co. & Anr., have purportedly settled the matter. However, the court is considering the interests of other financial and operational creditors before passing a final order.
Vishal Gupta filed a Company Appeal (AT) (Insolvency) No. 1016 of 2019 against Aanav Construction Co. & Anr. The appellant's counsel stated that the appellant had settled the matter with the first respondent, Aanav Construction Co., which is an operational creditor. However, other financial and operational creditors intend to intervene. The court acknowledged the settlement but emphasized the need to address the concerns of the intervening creditors before passing any final order. An interim order of stay was vacated, and the Interim Resolution Professional was directed to proceed according to law. The case was posted for orders on January 22, 2020. The relevance of these facts lies in the court's consideration of the broader impact of insolvency proceedings on all
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Mr. Saurabh Kalia, Advocate, requested…
The court posted the…
The case involves a Company Appeal (AT) (Insolvency) No. 1016 of 2019 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appellant, Vishal Gupta, and the respondent, Aanav Construction Co. & Anr., have purportedly settled the matter. However, the court is considering the interests of other financial and operational creditors before passing a final order.
Vishal Gupta filed a Company Appeal (AT) (Insolvency) No. 1016 of 2019 against Aanav Construction Co. & Anr. The appellant's counsel stated that the appellant had settled the matter with the first respondent, Aanav Construction Co., which is an operational creditor. However, other financial and operational creditors intend to intervene. The court acknowledged the settlement but emphasized the need to address the concerns of the intervening creditors before passing any final order. An interim order of stay was vacated, and the Interim Resolution Professional was directed to proceed according to law. The case was posted for orders on January 22, 2020. The relevance of these facts lies in the court's consideration of the broader impact of insolvency proceedings on all
…Mr. Saurabh Kalia, Advocate, requested…
The court posted the…