The Financial Creditor (Indian Bank) filed an impleadment application seeking directions regarding the distribution of margin money. The NCLT considered this application in light of a stay granted by the NCLAT in related appeals.
Indian Bank, acting as the Financial Creditor, submitted an impleadment application, MA/782/2019 , within the context of MA/646/2019 . This application sought specific directions concerning the method of distributing margin money. The matter was brought before the National Company Law Tribunal, Chennai Bench, on August 5, 2019, for a hearing. The NCLT Bench observed that granting this impleadment application would not impact the stay order previously issued by the National Company Law Appellate Tribunal (NCLAT) in Appeal Nos. 761 & 762 of 2019. Consequently, the NCLT decided to allow MA/782/2019, thereby permitting the applicants to be included as respondents in MA/646/2019. However, the NCLT also recognized that the relief requested in MA/646/2019 had
…Sign in to view the parties.
Attendance cum order sheet of the hearing of…
The NCLT allowed…
The Financial Creditor (Indian Bank) filed an impleadment application seeking directions regarding the distribution of margin money. The NCLT considered this application in light of a stay granted by the NCLAT in related appeals.
Indian Bank, acting as the Financial Creditor, submitted an impleadment application, MA/782/2019 , within the context of MA/646/2019 . This application sought specific directions concerning the method of distributing margin money. The matter was brought before the National Company Law Tribunal, Chennai Bench, on August 5, 2019, for a hearing. The NCLT Bench observed that granting this impleadment application would not impact the stay order previously issued by the National Company Law Appellate Tribunal (NCLAT) in Appeal Nos. 761 & 762 of 2019. Consequently, the NCLT decided to allow MA/782/2019, thereby permitting the applicants to be included as respondents in MA/646/2019. However, the NCLT also recognized that the relief requested in MA/646/2019 had
…Attendance cum order sheet of the hearing of…
The NCLT allowed…