This case involves an application filed by the State Bank of India (SBI), the financial creditor, under Rule 11 of the NCLT Rules, 2016, seeking the tribunal's direction to take on record the rejoinder filed by the financial creditor on June 13, 2022, to the counter filed by India Power Corporation Limited, the corporate debtor. The application also seeks condonation of the delay in filing the rejoinder and any other orders the Adjudicating Authority deems fit. The corporate debtor filed a transfer application before NCLT, Principal Bench, seeking transfer of the Company Petition to NCLT, Kolkata, which caused delays in the proceedings. An injunction granted by the Commercial Court at Alipore also contributed to the adjournment of hearings.
State Bank of India (SBI) initiated a corporate insolvency resolution process (CIRP) against India Power Corporation Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC). The NCLT directed the corporate debtor to file a counter-affidavit. The corporate debtor delayed filing its counter and instead filed multiple applications. SBI was granted time to file a rejoinder. The corporate debtor filed a transfer application seeking to move the case to NCLT Kolkata, which led to adjournments. An injunction from the Commercial Court at Alipore further delayed proceedings. SBI filed its rejoinder with a delay, leading to the current application to condone the delay and take the rejoinder on record. The respondent objected to the application,
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Tribunal directed the corporate debtor to file…
Tribunal granted two…
This case involves an application filed by the State Bank of India (SBI), the financial creditor, under Rule 11 of the NCLT Rules, 2016, seeking the tribunal's direction to take on record the rejoinder filed by the financial creditor on June 13, 2022, to the counter filed by India Power Corporation Limited, the corporate debtor. The application also seeks condonation of the delay in filing the rejoinder and any other orders the Adjudicating Authority deems fit. The corporate debtor filed a transfer application before NCLT, Principal Bench, seeking transfer of the Company Petition to NCLT, Kolkata, which caused delays in the proceedings. An injunction granted by the Commercial Court at Alipore also contributed to the adjournment of hearings.
State Bank of India (SBI) initiated a corporate insolvency resolution process (CIRP) against India Power Corporation Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC). The NCLT directed the corporate debtor to file a counter-affidavit. The corporate debtor delayed filing its counter and instead filed multiple applications. SBI was granted time to file a rejoinder. The corporate debtor filed a transfer application seeking to move the case to NCLT Kolkata, which led to adjournments. An injunction from the Commercial Court at Alipore further delayed proceedings. SBI filed its rejoinder with a delay, leading to the current application to condone the delay and take the rejoinder on record. The respondent objected to the application,
…Tribunal directed the corporate debtor to file…
Tribunal granted two…