The case involves an application (IA-37/2022) filed by Mr. Satish Kumar and 47 others, seeking access to units purchased by them through registered lease deeds and permission to commence commercial activity. This application was filed under Rule 11 of the NCLT Rules, 2016. The backdrop includes an earlier application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Financial Creditors Nikhil Mehta & Sons (HUF) & Ors. against Corporate Debtor AMR Infrastructures Limited, which was admitted on 10.05.2018. A resolution plan was submitted and approved by the CoC on 20.05.2019. CA-1069-(ND)-2019 was filed to seek approval of the Resolution Plan, which is pending adjudication.
Nikhil Mehta & Sons (HUF) & Ors., the Financial Creditors, initiated insolvency proceedings against AMR Infrastructures Limited (Corporate Debtor) under Section 7 of the IBC. The application was admitted on 2018-05-10. Mr. Vikram Bajaj was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Mr. Satish Kumar and 47 others (Applicants) purchased commercial/residential units in a project launched by the Corporate Debtor. They possess registered tripartite lease deeds executed by GNIDA and M/s. RC Info System. The Applicants sought access to their units and permission to commence commercial activities, but the Resolution Professional disallowed access, requesting an indemnity bond. The project is incomplete, lacking
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Application under Section 7 of IBC filed by…
The Committee of Creditors approved a…
The case involves an application (IA-37/2022) filed by Mr. Satish Kumar and 47 others, seeking access to units purchased by them through registered lease deeds and permission to commence commercial activity. This application was filed under Rule 11 of the NCLT Rules, 2016. The backdrop includes an earlier application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Financial Creditors Nikhil Mehta & Sons (HUF) & Ors. against Corporate Debtor AMR Infrastructures Limited, which was admitted on 10.05.2018. A resolution plan was submitted and approved by the CoC on 20.05.2019. CA-1069-(ND)-2019 was filed to seek approval of the Resolution Plan, which is pending adjudication.
Nikhil Mehta & Sons (HUF) & Ors., the Financial Creditors, initiated insolvency proceedings against AMR Infrastructures Limited (Corporate Debtor) under Section 7 of the IBC. The application was admitted on 2018-05-10. Mr. Vikram Bajaj was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Mr. Satish Kumar and 47 others (Applicants) purchased commercial/residential units in a project launched by the Corporate Debtor. They possess registered tripartite lease deeds executed by GNIDA and M/s. RC Info System. The Applicants sought access to their units and permission to commence commercial activities, but the Resolution Professional disallowed access, requesting an indemnity bond. The project is incomplete, lacking
…Application under Section 7 of IBC filed by…
The Committee of Creditors approved a…