The case involves a petition filed by M/s. Pedersen Consultants India Private Limited under Section 9 of the IBC, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Nitesh Estates Limited, the Corporate Debtor, due to a default of Rs. 20,21,800/-. The Adjudicating Authority initially rejected the company petition, leading the Petitioner to file an appeal before the NCLAT. The NCLAT allowed the appeal, setting aside the Adjudicating Authority's order and remitting the case back to the Adjudicating Authority to admit the application after issuing a notice to the Respondent, allowing them an opportunity to settle the matter.
M/s. Pedersen Consultants India Private Limited, the Operational Creditor, filed C.P.(IB)No.35/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate CIRP against M/s. Nitesh Estates Limited, the Corporate Debtor. The basis for the petition was a default of Rs. 20,21,800/- by the Corporate Debtor. The Adjudicating Authority initially rejected the petition on 2018-10-05. Aggrieved, the Petitioner appealed to the NCLAT, which allowed the appeal on 2019-07-24, setting aside the Adjudicating Authority's order and remitting the case. The NCLAT directed the Adjudicating Authority to admit the application under Section 9 after issuing notice to the Respondent, allowing an opportunity for settlement. Subsequently, the parties settled the matter, with the Respondent
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The Adjudicating…
The Petitioner filed an appeal before the…
The case involves a petition filed by M/s. Pedersen Consultants India Private Limited under Section 9 of the IBC, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Nitesh Estates Limited, the Corporate Debtor, due to a default of Rs. 20,21,800/-. The Adjudicating Authority initially rejected the company petition, leading the Petitioner to file an appeal before the NCLAT. The NCLAT allowed the appeal, setting aside the Adjudicating Authority's order and remitting the case back to the Adjudicating Authority to admit the application after issuing a notice to the Respondent, allowing them an opportunity to settle the matter.
M/s. Pedersen Consultants India Private Limited, the Operational Creditor, filed C.P.(IB)No.35/BB/2018 under Section 9 of the IBC, 2016, seeking to initiate CIRP against M/s. Nitesh Estates Limited, the Corporate Debtor. The basis for the petition was a default of Rs. 20,21,800/- by the Corporate Debtor. The Adjudicating Authority initially rejected the petition on 2018-10-05. Aggrieved, the Petitioner appealed to the NCLAT, which allowed the appeal on 2019-07-24, setting aside the Adjudicating Authority's order and remitting the case. The NCLAT directed the Adjudicating Authority to admit the application under Section 9 after issuing notice to the Respondent, allowing an opportunity for settlement. Subsequently, the parties settled the matter, with the Respondent
…The Adjudicating…
The Petitioner filed an appeal before the…