The Financial Creditor, State Bank of India, filed an impleadment application (MA/705/2019) in MA/646/2019, seeking directions regarding the distribution of margin money. The bench noted that allowing this application would not affect the stay granted by the NCLAT in Appeal Nos. 761 & 762 of 2019.
The State Bank of India, acting as the Financial Creditor, submitted an impleadment application, MA/705/2019, within the context of MA/646/2019. This application aimed to obtain specific directions concerning the distribution of margin money. The core issue revolved around whether granting this application would interfere with a stay order previously issued by the National Company Law Appellate Tribunal (NCLAT) in Appeal Nos. 761 and 762 of 2019. The court's decision hinged on its assessment of the potential impact of the impleadment on the existing stay. The corporate debtor is Orchid Pharma Ltd.
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Hearing he…
MA/705/2019 f…
The Financial Creditor, State Bank of India, filed an impleadment application (MA/705/2019) in MA/646/2019, seeking directions regarding the distribution of margin money. The bench noted that allowing this application would not affect the stay granted by the NCLAT in Appeal Nos. 761 & 762 of 2019.
The State Bank of India, acting as the Financial Creditor, submitted an impleadment application, MA/705/2019, within the context of MA/646/2019. This application aimed to obtain specific directions concerning the distribution of margin money. The core issue revolved around whether granting this application would interfere with a stay order previously issued by the National Company Law Appellate Tribunal (NCLAT) in Appeal Nos. 761 and 762 of 2019. The court's decision hinged on its assessment of the potential impact of the impleadment on the existing stay. The corporate debtor is Orchid Pharma Ltd.
Hearing he…
MA/705/2019 f…