The case involves an application (MA/363/2019) within an insolvency proceeding (IBA/434/2019). The National Company Law Tribunal (NCLT), Chennai Bench, heard submissions from both sides. Due to the impending vacation, the bench decided it was not in a position to pronounce orders immediately. The respondents did not agree to extend the existing undertaking without prejudice to their rights. The court directed both parties not to deal with the asset in question until the next hearing date.
The National Company Law Tribunal (NCLT), Chennai Bench, was hearing an application (MA/363/2019) within an insolvency proceeding (IBA/434/2019). The hearing took place on 2019-05-02. The petitioner is Sripriya Kumar RP, representing Santosh Hospitals Pvt Ltd. The respondents include Muthoot Fincorp Ltd and 4 others. The case is brought under Section 60(5) of the IBC. Due to the impending vacation and the respondents' refusal to extend an existing undertaking, the NCLT decided to defer the matter for further hearing after the vacation. The court directed both parties not to deal with the asset in question until the next hearing. The matter was listed for additional written submissions on 2019-05-27. The order explicitly stated that it was not based on the merits of the
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Hearing of MA/363/2019…
Matter listed for…
The case involves an application (MA/363/2019) within an insolvency proceeding (IBA/434/2019). The National Company Law Tribunal (NCLT), Chennai Bench, heard submissions from both sides. Due to the impending vacation, the bench decided it was not in a position to pronounce orders immediately. The respondents did not agree to extend the existing undertaking without prejudice to their rights. The court directed both parties not to deal with the asset in question until the next hearing date.
The National Company Law Tribunal (NCLT), Chennai Bench, was hearing an application (MA/363/2019) within an insolvency proceeding (IBA/434/2019). The hearing took place on 2019-05-02. The petitioner is Sripriya Kumar RP, representing Santosh Hospitals Pvt Ltd. The respondents include Muthoot Fincorp Ltd and 4 others. The case is brought under Section 60(5) of the IBC. Due to the impending vacation and the respondents' refusal to extend an existing undertaking, the NCLT decided to defer the matter for further hearing after the vacation. The court directed both parties not to deal with the asset in question until the next hearing. The matter was listed for additional written submissions on 2019-05-27. The order explicitly stated that it was not based on the merits of the
…Hearing of MA/363/2019…
Matter listed for…