The applicant filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions to the Resolution Professional to exclude certain immovable properties from the assets of the Corporate Debtor, as these properties were purchased by the applicant for adequate consideration prior to the commencement of CIRP.
Capri Global Ltd, a financial creditor, initiated a petition for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under section 7 of the Insolvency and Bankruptcy Code, 2016. The Tribunal allowed this petition on September 27, 2019, and an admission order was issued. Subsequently, the Respondent was appointed as the Resolution Professional for the Corporate Debtor on November 19, 2019. The applicant, Nisha M. Chandwani, sought to exclude certain immovable properties from the Corporate Debtor's assets, arguing they were purchased for adequate consideration before the CIRP began. The Corporate Debtor, Monarch Brookfields LLP, was constructing a building named 'Monarch Brookfields' in Navi Mumbai. The applicant intended to purchase commercial
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The Hon'ble Tribunal allowed the petition for…
The Respondent, S. Gopalkrishnan, was…
The applicant filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions to the Resolution Professional to exclude certain immovable properties from the assets of the Corporate Debtor, as these properties were purchased by the applicant for adequate consideration prior to the commencement of CIRP.
Capri Global Ltd, a financial creditor, initiated a petition for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under section 7 of the Insolvency and Bankruptcy Code, 2016. The Tribunal allowed this petition on September 27, 2019, and an admission order was issued. Subsequently, the Respondent was appointed as the Resolution Professional for the Corporate Debtor on November 19, 2019. The applicant, Nisha M. Chandwani, sought to exclude certain immovable properties from the Corporate Debtor's assets, arguing they were purchased for adequate consideration before the CIRP began. The Corporate Debtor, Monarch Brookfields LLP, was constructing a building named 'Monarch Brookfields' in Navi Mumbai. The applicant intended to purchase commercial
…The Hon'ble Tribunal allowed the petition for…
The Respondent, S. Gopalkrishnan, was…