The case involves an application filed by Edelweiss Asset Reconstruction Company Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016 (CIRP) against Adel Landmarks Ltd. The Hon'ble Appellate Tribunal had set aside an earlier order dated 07.03.2019 passed by the Adjudicating Authority/NCLT, Special Bench, which had dismissed the petition. The Appellate Tribunal issued directions on 20.09.2019 for the admission of some of the petitions.
Edelweiss Asset Reconstruction Company Ltd. filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Adel Landmarks Ltd. The Adjudicating Authority/NCLT, Special Bench, had initially dismissed the petition, but the Hon'ble Appellate Tribunal set aside this order. The Appellate Tribunal directed the admission of some of the petitions. The case also involves other companies, including Sachet Infrastructure Pvt. Ltd., Magad Realtors Pvt. Ltd., Mehak Realtech Pvt. Ltd., Sameeksha Estate Pvt. Ltd., and Jamvant Estates Pvt. Ltd., against whom Edelweiss Asset Reconstruction Company Ltd. filed petitions. Mr. Udayraj Patwardhan was appointed as the Interim Resolution Professional. A general complaint was received against financial creditors,
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The Hon'ble Appellate Tribunal issued…
The case involves an application filed by Edelweiss Asset Reconstruction Company Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016 (CIRP) against Adel Landmarks Ltd. The Hon'ble Appellate Tribunal had set aside an earlier order dated 07.03.2019 passed by the Adjudicating Authority/NCLT, Special Bench, which had dismissed the petition. The Appellate Tribunal issued directions on 20.09.2019 for the admission of some of the petitions.
Edelweiss Asset Reconstruction Company Ltd. filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Adel Landmarks Ltd. The Adjudicating Authority/NCLT, Special Bench, had initially dismissed the petition, but the Hon'ble Appellate Tribunal set aside this order. The Appellate Tribunal directed the admission of some of the petitions. The case also involves other companies, including Sachet Infrastructure Pvt. Ltd., Magad Realtors Pvt. Ltd., Mehak Realtech Pvt. Ltd., Sameeksha Estate Pvt. Ltd., and Jamvant Estates Pvt. Ltd., against whom Edelweiss Asset Reconstruction Company Ltd. filed petitions. Mr. Udayraj Patwardhan was appointed as the Interim Resolution Professional. A general complaint was received against financial creditors,
…The Adjudicating…
The Hon'ble Appellate Tribunal issued…