The case involves an application filed for the revival of a Corporate Insolvency Resolution Process (CIRP) that was initially triggered under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP, identified as CP (IB)-1082(PB)/2018, was based on an order dated 01.03.2019 passed by the Hon'ble Appellate Tribunal. Shareholders of the corporate debtor had filed an appeal against the admission order dated 25.01.2019 before the Appellate Tribunal. The promoters/shareholders of the corporate debtor had given cheques to the applicant/financial creditor towards settlement of the claim. The Appellate Authority recorded the settlement. The settlement was subject to the condition that if the cheques bounced, the applicant would be at liberty to revive the company
…Kiran Malhotra filed an application/petition against Alchemist Township India Ltd. The application was for the revival of CP (IB)-1082(PB)/2018, which was initially triggered under Section 7 of the Insolvency and Bankruptcy Code, 2016. The basis for the revival was the failure of a settlement agreement reached before the Appellate Tribunal. The shareholders of Alchemist Township India Ltd. had filed an appeal against the admission order dated 25.01.2019. The promoters/shareholders had given cheques to Kiran Malhotra towards settlement of the claim, which were subsequently bounced. The applicant/financial creditor stated that the earlier IRP is reluctant to continue. The Appellate Authority had recorded the settlement arrived at.
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Admission order passed by the Appellate…
Order passed by the Hon'ble Appellate…
The case involves an application filed for the revival of a Corporate Insolvency Resolution Process (CIRP) that was initially triggered under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP, identified as CP (IB)-1082(PB)/2018, was based on an order dated 01.03.2019 passed by the Hon'ble Appellate Tribunal. Shareholders of the corporate debtor had filed an appeal against the admission order dated 25.01.2019 before the Appellate Tribunal. The promoters/shareholders of the corporate debtor had given cheques to the applicant/financial creditor towards settlement of the claim. The Appellate Authority recorded the settlement. The settlement was subject to the condition that if the cheques bounced, the applicant would be at liberty to revive the company
…Kiran Malhotra filed an application/petition against Alchemist Township India Ltd. The application was for the revival of CP (IB)-1082(PB)/2018, which was initially triggered under Section 7 of the Insolvency and Bankruptcy Code, 2016. The basis for the revival was the failure of a settlement agreement reached before the Appellate Tribunal. The shareholders of Alchemist Township India Ltd. had filed an appeal against the admission order dated 25.01.2019. The promoters/shareholders had given cheques to Kiran Malhotra towards settlement of the claim, which were subsequently bounced. The applicant/financial creditor stated that the earlier IRP is reluctant to continue. The Appellate Authority had recorded the settlement arrived at.
Admission order passed by the Appellate…
Order passed by the Hon'ble Appellate…