The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Adventz Finance Pvt. Ltd. (Financial Creditor) against Jai Annanya Investments Pvt. Ltd. (Corporate Debtor). The application was initially rejected by the Adjudicating Authority, but this order was appealed against by the Financial Creditor at the NCLAT. The NCLAT set aside the Adjudicating Authority's order and revived the Section 7 application.
Adventz Finance Pvt. Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Jai Annanya Investments Pvt. Ltd., seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority initially rejected the application. Adventz Finance Pvt. Ltd. appealed to the NCLAT, which set aside the Adjudicating Authority's order and revived the Section 7 application. The NCLAT directed the Adjudicating Authority to pass an order of admission. The Adjudicating Authority then admitted the Section 7 application, declared a moratorium under Section 14 of the IBC, and appointed Mr. Amit Choraria as the Interim Resolution Professional (IRP). The IRP is tasked with convening a meeting of the Committee of Creditors (CoC)
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The Adjudicating Authority rejected the…
NCLAT set aside the…
The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Adventz Finance Pvt. Ltd. (Financial Creditor) against Jai Annanya Investments Pvt. Ltd. (Corporate Debtor). The application was initially rejected by the Adjudicating Authority, but this order was appealed against by the Financial Creditor at the NCLAT. The NCLAT set aside the Adjudicating Authority's order and revived the Section 7 application.
Adventz Finance Pvt. Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Jai Annanya Investments Pvt. Ltd., seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority initially rejected the application. Adventz Finance Pvt. Ltd. appealed to the NCLAT, which set aside the Adjudicating Authority's order and revived the Section 7 application. The NCLAT directed the Adjudicating Authority to pass an order of admission. The Adjudicating Authority then admitted the Section 7 application, declared a moratorium under Section 14 of the IBC, and appointed Mr. Amit Choraria as the Interim Resolution Professional (IRP). The IRP is tasked with convening a meeting of the Committee of Creditors (CoC)
…The Adjudicating Authority rejected the…
NCLAT set aside the…