The case involves an impleadment application (MA/763/2019) filed by Allahabad Bank in MA/646/2019, seeking directions regarding the distribution of margin money. The Bench noted that allowing the application would not affect the stay granted by NCLAT in Appeal Nos. 761 & 762 of 2019. The application was allowed, but the Resolution Professional was directed to mention MA/646/2019 after the pending appeal before NCLAT is decided.
Allahabad Bank, as a Financial Creditor, filed an impleadment application (MA/763/2019) in MA/646/2019. The application sought directions regarding the distribution of margin money. The NCLT Chennai Bench considered the application in light of a stay order granted by the NCLAT in Appeal Nos. 761 & 762 of 2019. The Bench determined that allowing the application would not affect the stay. The Resolution Professional was directed to mention MA/646/2019 after the appeal pending before NCLAT is decided. The corporate debtor is Orchid Pharma Ltd.
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CP/540/IB/20…
Hearing he…
The case involves an impleadment application (MA/763/2019) filed by Allahabad Bank in MA/646/2019, seeking directions regarding the distribution of margin money. The Bench noted that allowing the application would not affect the stay granted by NCLAT in Appeal Nos. 761 & 762 of 2019. The application was allowed, but the Resolution Professional was directed to mention MA/646/2019 after the pending appeal before NCLAT is decided.
Allahabad Bank, as a Financial Creditor, filed an impleadment application (MA/763/2019) in MA/646/2019. The application sought directions regarding the distribution of margin money. The NCLT Chennai Bench considered the application in light of a stay order granted by the NCLAT in Appeal Nos. 761 & 762 of 2019. The Bench determined that allowing the application would not affect the stay. The Resolution Professional was directed to mention MA/646/2019 after the appeal pending before NCLAT is decided. The corporate debtor is Orchid Pharma Ltd.
CP/540/IB/20…
Hearing he…