The case involves a petition filed by Ravindra Gopal, proprietor of Avon Capital, against M/s Tattva & Mittal Lifespaces Pvt. Ltd., the alleged Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT Mumbai Bench initially dismissed the petition, which led to an appeal before the NCLAT. The NCLAT set aside the NCLT's order and remitted the case back to the Adjudicating Authority, Mumbai Bench, for admission and appropriate orders. However, the NCLAT allowed the respondent to settle the claim before the application's admission.
Ravindra Gopal, proprietor of Avon Capital, filed a petition against M/s Tattva & Mittal Lifespaces Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT Mumbai Bench initially dismissed the petition on 2017-07-11. Ravindra Gopal appealed to the NCLAT, which set aside the NCLT's order on 2018-08-09 and remitted the case back to the NCLT for reconsideration. The NCLAT allowed the respondent to settle the claim before the application's admission. The parties then explored settlement avenues and agreed to settle the claim amicably. The consent terms outline a payment schedule for a full and final settlement of Rs. 55 lakhs plus Rs. 9.90 lakhs (GST), totaling Rs. 64.90 lakhs. The total amount due including interest as on 2018-09-03 was Rs
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NCLT, Mumbai Bench,…
NCLAT set aside the NCLT's order and…
The case involves a petition filed by Ravindra Gopal, proprietor of Avon Capital, against M/s Tattva & Mittal Lifespaces Pvt. Ltd., the alleged Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT Mumbai Bench initially dismissed the petition, which led to an appeal before the NCLAT. The NCLAT set aside the NCLT's order and remitted the case back to the Adjudicating Authority, Mumbai Bench, for admission and appropriate orders. However, the NCLAT allowed the respondent to settle the claim before the application's admission.
Ravindra Gopal, proprietor of Avon Capital, filed a petition against M/s Tattva & Mittal Lifespaces Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT Mumbai Bench initially dismissed the petition on 2017-07-11. Ravindra Gopal appealed to the NCLAT, which set aside the NCLT's order on 2018-08-09 and remitted the case back to the NCLT for reconsideration. The NCLAT allowed the respondent to settle the claim before the application's admission. The parties then explored settlement avenues and agreed to settle the claim amicably. The consent terms outline a payment schedule for a full and final settlement of Rs. 55 lakhs plus Rs. 9.90 lakhs (GST), totaling Rs. 64.90 lakhs. The total amount due including interest as on 2018-09-03 was Rs
…NCLT, Mumbai Bench,…
NCLAT set aside the NCLT's order and…