The case involves an application filed under Section 7 of the Insolvency & Bankruptcy Code, 2016, alleging a default of Rs. 5 lakhs. The application was filed before the National Company Law Tribunal (NCLT), Principal Bench, New Delhi. The applicant claims that the default is evident from document Annexure 'B', and Annexure 'D' shows the computation of amount and days of default in a tabulated form. The Paper Book indicates compliance with Section 7 provisions and accompanying rules.
An application was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016, alleging a default of Rs. 5 lakhs by Om Shivay Real Estate Pvt. Ltd. The applicant, Advantage Projects & Consultants Pvt. Ltd., submitted documents, including Annexure 'B' and Annexure 'D', to support the claim. Annexure 'B' allegedly provides evidence of the default, while Annexure 'D' presents a computation of the amount and days of default. The Paper Book submitted by the applicant purportedly demonstrates compliance with the provisions of Section 7 and the accompanying rules. The Corporate Debtor's counsel did not dispute the Financial Creditor's stand and admitted to the same after obtaining instructions. This admission was a key factor in the court's decision.
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Hearing before the…
Insolvency & Ba…
The case involves an application filed under Section 7 of the Insolvency & Bankruptcy Code, 2016, alleging a default of Rs. 5 lakhs. The application was filed before the National Company Law Tribunal (NCLT), Principal Bench, New Delhi. The applicant claims that the default is evident from document Annexure 'B', and Annexure 'D' shows the computation of amount and days of default in a tabulated form. The Paper Book indicates compliance with Section 7 provisions and accompanying rules.
An application was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016, alleging a default of Rs. 5 lakhs by Om Shivay Real Estate Pvt. Ltd. The applicant, Advantage Projects & Consultants Pvt. Ltd., submitted documents, including Annexure 'B' and Annexure 'D', to support the claim. Annexure 'B' allegedly provides evidence of the default, while Annexure 'D' presents a computation of the amount and days of default. The Paper Book submitted by the applicant purportedly demonstrates compliance with the provisions of Section 7 and the accompanying rules. The Corporate Debtor's counsel did not dispute the Financial Creditor's stand and admitted to the same after obtaining instructions. This admission was a key factor in the court's decision.
Hearing before the…
Insolvency & Ba…