The case involves an application for admission under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by M/s Oriental Bank of Commerce against M/s IDEB Projects Pvt Ltd. The Tribunal noted that the bank had filed the petition leaving the consortium and that the counsel was not assisting the Tribunal effectively. The Registry was directed to notify the Chairman of Oriental Bank of Commerce to ensure appropriate bank representation.
M/s Oriental Bank of Commerce filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) against M/s IDEB Projects Pvt Ltd. The Tribunal observed that the bank had filed the petition without including the consortium. The Tribunal also noted the lack of assistance from the petitioner's counsel. An NCLAT order dated 15.02.2019 was referenced, emphasizing adherence to the IBC's timelines and objectives. The Tribunal expressed concern that the proceedings were not progressing as intended and could be derailed.
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The hearing was…
The Tribunal passed an order on 06.02.2019…
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The case involves an application for admission under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by M/s Oriental Bank of Commerce against M/s IDEB Projects Pvt Ltd. The Tribunal noted that the bank had filed the petition leaving the consortium and that the counsel was not assisting the Tribunal effectively. The Registry was directed to notify the Chairman of Oriental Bank of Commerce to ensure appropriate bank representation.
M/s Oriental Bank of Commerce filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) against M/s IDEB Projects Pvt Ltd. The Tribunal observed that the bank had filed the petition without including the consortium. The Tribunal also noted the lack of assistance from the petitioner's counsel. An NCLAT order dated 15.02.2019 was referenced, emphasizing adherence to the IBC's timelines and objectives. The Tribunal expressed concern that the proceedings were not progressing as intended and could be derailed.
The hearing was…
The Tribunal passed an order on 06.02.2019…
Sign in to view related legal provisions.