The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) for initiating the Corporate Insolvency Resolution Process (CIRP) against Mars Remedies Pvt Ltd. BDH Industries Ltd, the Financial Creditor, filed the application. The Corporate Debtor had taken the plea of its appeal pending before the Hon'ble Supreme Court, but no stay order was granted. The Hon'ble NCLAT had directed the Adjudicating Authority to pass an order for initiating CIRP against the Corporate Debtor within 15 days.
BDH Industries Ltd filed an application under Section 7 of the IBC to initiate CIRP against Mars Remedies Pvt Ltd. The Corporate Debtor, Mars Remedies Pvt Ltd, claimed its appeal was pending before the Supreme Court. However, no stay order was granted. The Hon'ble NCLAT had directed the NCLT to pass an order for initiating CIRP against the Corporate Debtor. A letter dated 27.12.2021 from MRPL to BDH Industries was considered proof of financial assistance. The NCLAT order dated 07.02.2022 directed the Adjudicating Authority to pass order as required under law for initiating CIRP against the Corporate Debtor. The Financial Creditor filed an appeal before Hon'ble NCLAT against the order of this Bench for not considering request of the Financial Creditor to admit the
…Sign in to view the parties.
Hearing before Hon'ble Supreme Court where the…
Hearing before Hon'ble Supreme Court where the…
The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) for initiating the Corporate Insolvency Resolution Process (CIRP) against Mars Remedies Pvt Ltd. BDH Industries Ltd, the Financial Creditor, filed the application. The Corporate Debtor had taken the plea of its appeal pending before the Hon'ble Supreme Court, but no stay order was granted. The Hon'ble NCLAT had directed the Adjudicating Authority to pass an order for initiating CIRP against the Corporate Debtor within 15 days.
BDH Industries Ltd filed an application under Section 7 of the IBC to initiate CIRP against Mars Remedies Pvt Ltd. The Corporate Debtor, Mars Remedies Pvt Ltd, claimed its appeal was pending before the Supreme Court. However, no stay order was granted. The Hon'ble NCLAT had directed the NCLT to pass an order for initiating CIRP against the Corporate Debtor. A letter dated 27.12.2021 from MRPL to BDH Industries was considered proof of financial assistance. The NCLAT order dated 07.02.2022 directed the Adjudicating Authority to pass order as required under law for initiating CIRP against the Corporate Debtor. The Financial Creditor filed an appeal before Hon'ble NCLAT against the order of this Bench for not considering request of the Financial Creditor to admit the
…Hearing before Hon'ble Supreme Court where the…
Hearing before Hon'ble Supreme Court where the…