The case involves an application (IA 4516/ND/2021) filed by Yes Bank Limited under Rule 11 of the National Company Law Tribunal Rules, 2016, seeking to vacate an interim stay order dated 30.09.2021. The main IB petition (IB No. 472/ND/2019) was filed by Deewan Housing Finance Corporation Limited (DHFL) against Nayati Healthcare & Research NCR Pvt. Ltd. for initiation of Corporate Insolvency Resolution Process (CIRP). DHFL also filed IA 4439/2021 to add Yes Bank as Respondent No. 2, seeking to restrain the Corporate Debtor and applicant from selling or creating third-party rights on the Corporate Debtor's assets. The interim stay order was granted without providing Yes Bank a reasonable opportunity to be heard. Yes Bank claims the stay order violates its statutory
…The main IB petition (IB No. 472/ND/2019) was filed by Deewan Housing Finance Corporation Limited (DHFL) against Nayati Healthcare & Research NCR Pvt. Ltd. for initiation of Corporate Insolvency Resolution Process (CIRP). DHFL also filed IA 4439/2021 to add Yes Bank as Respondent No. 2. Yes Bank filed an application (IA 4516/ND/2021) to vacate an interim stay order dated 30.09.2021. The interim stay order was granted by the Adjudicating Authority without providing Yes Bank a reasonable opportunity to be heard. Yes Bank claims the stay order violates its statutory rights under the SARFAESI Act. Yes Bank had issued a notice under Section 13(2) of the SARFAESI Act on 29th July 2021, giving 60 days' time to the Corporate Debtor. Before the expiry of the 60 days, Yes
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Deewan Housing Finance Corporation Limited…
Yes Bank issued a notice…
The case involves an application (IA 4516/ND/2021) filed by Yes Bank Limited under Rule 11 of the National Company Law Tribunal Rules, 2016, seeking to vacate an interim stay order dated 30.09.2021. The main IB petition (IB No. 472/ND/2019) was filed by Deewan Housing Finance Corporation Limited (DHFL) against Nayati Healthcare & Research NCR Pvt. Ltd. for initiation of Corporate Insolvency Resolution Process (CIRP). DHFL also filed IA 4439/2021 to add Yes Bank as Respondent No. 2, seeking to restrain the Corporate Debtor and applicant from selling or creating third-party rights on the Corporate Debtor's assets. The interim stay order was granted without providing Yes Bank a reasonable opportunity to be heard. Yes Bank claims the stay order violates its statutory
…The main IB petition (IB No. 472/ND/2019) was filed by Deewan Housing Finance Corporation Limited (DHFL) against Nayati Healthcare & Research NCR Pvt. Ltd. for initiation of Corporate Insolvency Resolution Process (CIRP). DHFL also filed IA 4439/2021 to add Yes Bank as Respondent No. 2. Yes Bank filed an application (IA 4516/ND/2021) to vacate an interim stay order dated 30.09.2021. The interim stay order was granted by the Adjudicating Authority without providing Yes Bank a reasonable opportunity to be heard. Yes Bank claims the stay order violates its statutory rights under the SARFAESI Act. Yes Bank had issued a notice under Section 13(2) of the SARFAESI Act on 29th July 2021, giving 60 days' time to the Corporate Debtor. Before the expiry of the 60 days, Yes
…Deewan Housing Finance Corporation Limited…
Yes Bank issued a notice…