The case involves a Company Appeal (AT) (Insolvency) No. 552 of 2020 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appeal was filed in relation to an insolvency resolution process initiated against a Corporate Debtor. The 'corporate insolvency resolution process' was commenced at the instance of the Respondent (Operational Creditor) in terms of the impugned order dated 27th May, 2020 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench –V. The Appellant filed I.A. No. 1534 of 2020 under Rule 11 of the NCLAT Rules, 2016, seeking to record a settlement between the parties.
Vivek Bansal filed an appeal against Burda Druck India Pvt. Ltd. & Anr. before the NCLAT. The 'corporate insolvency resolution process' was initiated by Burda Druck India Pvt. Ltd. (Operational Creditor) against a 'Corporate Debtor' based on an order dated May 27, 2020, by the National Company Law Tribunal (NCLT), New Delhi Bench –V. The parties reached a settlement where the 'Corporate Debtor' agreed to pay Rs.4,25,00,000/- to the Operational Creditor. The Appellant filed I.A. No. 1534 of 2020 seeking to record the settlement. The Committee of Creditors was not constituted. The Interim Resolution Professional (IRP) was appointed, but the NCLAT found the claimed expenses to be inflated. The NCLAT set aside the NCLT's order and allowed the Corporate Debtor to exit
…Sign in to view the parties.
Order passed by the Adjudicating Authority…
Settlement agreement…
The case involves a Company Appeal (AT) (Insolvency) No. 552 of 2020 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appeal was filed in relation to an insolvency resolution process initiated against a Corporate Debtor. The 'corporate insolvency resolution process' was commenced at the instance of the Respondent (Operational Creditor) in terms of the impugned order dated 27th May, 2020 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench –V. The Appellant filed I.A. No. 1534 of 2020 under Rule 11 of the NCLAT Rules, 2016, seeking to record a settlement between the parties.
Vivek Bansal filed an appeal against Burda Druck India Pvt. Ltd. & Anr. before the NCLAT. The 'corporate insolvency resolution process' was initiated by Burda Druck India Pvt. Ltd. (Operational Creditor) against a 'Corporate Debtor' based on an order dated May 27, 2020, by the National Company Law Tribunal (NCLT), New Delhi Bench –V. The parties reached a settlement where the 'Corporate Debtor' agreed to pay Rs.4,25,00,000/- to the Operational Creditor. The Appellant filed I.A. No. 1534 of 2020 seeking to record the settlement. The Committee of Creditors was not constituted. The Interim Resolution Professional (IRP) was appointed, but the NCLAT found the claimed expenses to be inflated. The NCLAT set aside the NCLT's order and allowed the Corporate Debtor to exit
…Order passed by the Adjudicating Authority…
Settlement agreement…