The case pertains to CP(IB) No. 84/BB/2019, involving M/s Pratap Chandra Pandhy & Ors as the petitioner and M/s Dreamz Infra India Ltd as the respondent. The matter was initially under consideration of NCLAT order related to Section 7 of the I&B Code, 2016, concerning CIRP. An appeal, C.A. (AT) (Ins) No.34 of 2020, was preferred against the impugned order dated 17.12.2019. The NCLAT, vide its order dated 13.01.2021, set aside the impugned order and remitted the matter back to the Adjudicating Authority.
M/s Pratap Chandra Pandhy & Ors initiated a corporate insolvency resolution process (CIRP) against M/s Dreamz Infra India Ltd under Section 7 of the I&B Code, 2016. The NCLAT order was under consideration. An appeal was filed against the order dated 17.12.2019. The NCLAT set aside the order dated 17.12.2019 and remitted the matter back to the Adjudicating Authority. Shri Hari T Devadiga was recognized as the Authorised Representative of the class of Financial Creditors (home or shop buyers). The court appointed Shri Konduru Prasanth Raju as the new Resolution Professional (RP) in place of Ashok Kriplani. The legality of actions taken by the previous Resolution Professionals during the period between the impugned orders was protected.
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The case pertains to CP(IB) No. 84/BB/2019, involving M/s Pratap Chandra Pandhy & Ors as the petitioner and M/s Dreamz Infra India Ltd as the respondent. The matter was initially under consideration of NCLAT order related to Section 7 of the I&B Code, 2016, concerning CIRP. An appeal, C.A. (AT) (Ins) No.34 of 2020, was preferred against the impugned order dated 17.12.2019. The NCLAT, vide its order dated 13.01.2021, set aside the impugned order and remitted the matter back to the Adjudicating Authority.
M/s Pratap Chandra Pandhy & Ors initiated a corporate insolvency resolution process (CIRP) against M/s Dreamz Infra India Ltd under Section 7 of the I&B Code, 2016. The NCLAT order was under consideration. An appeal was filed against the order dated 17.12.2019. The NCLAT set aside the order dated 17.12.2019 and remitted the matter back to the Adjudicating Authority. Shri Hari T Devadiga was recognized as the Authorised Representative of the class of Financial Creditors (home or shop buyers). The court appointed Shri Konduru Prasanth Raju as the new Resolution Professional (RP) in place of Ashok Kriplani. The legality of actions taken by the previous Resolution Professionals during the period between the impugned orders was protected.
Order passed in…
NCLAT set aside the impugned order and…
Sign in to view related legal provisions.