The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The applicant, Piramal Capital & Housing Finance Ltd, filed an application against the respondent, O3 Developers Pvt Ltd. The applicant was required to file additional documents, including a registered copy of the deed of assignment and Form-D, which serves as a record of default issued by NeSL. The applicant failed to file the Form-D despite due notice and opportunity provided by the Tribunal.
Piramal Capital & Housing Finance Ltd initiated proceedings under Section 7 of the IBC against O3 Developers Pvt Ltd. The applicant was directed to file an additional affidavit along with a registered copy of the deed of assignment dated 30.06.2023, which was registered on 11.09.2023. A key requirement was the submission of Form-D, a record of default issued by NeSL. Despite receiving due notice and opportunity, the applicant failed to file the Form-D. The Tribunal determined that the application was incomplete due to the absence of this record of default. Consequently, IA/1019(AHM)2023, along with the main petition, was dismissed.
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The deed of as…
The deed of assignment…
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The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The applicant, Piramal Capital & Housing Finance Ltd, filed an application against the respondent, O3 Developers Pvt Ltd. The applicant was required to file additional documents, including a registered copy of the deed of assignment and Form-D, which serves as a record of default issued by NeSL. The applicant failed to file the Form-D despite due notice and opportunity provided by the Tribunal.
Piramal Capital & Housing Finance Ltd initiated proceedings under Section 7 of the IBC against O3 Developers Pvt Ltd. The applicant was directed to file an additional affidavit along with a registered copy of the deed of assignment dated 30.06.2023, which was registered on 11.09.2023. A key requirement was the submission of Form-D, a record of default issued by NeSL. Despite receiving due notice and opportunity, the applicant failed to file the Form-D. The Tribunal determined that the application was incomplete due to the absence of this record of default. Consequently, IA/1019(AHM)2023, along with the main petition, was dismissed.
The deed of as…
The deed of assignment…
Sign in to view related legal provisions.