The case involves an appeal against the order of the Adjudicating Authority, which admitted a Section 9 application filed by the Operational Creditor, initiating the CIRP process against Bsmart Tech Private Limited. The appellant, Dheerendra Kumar Singh, challenged the order dated 23.03.2023 before the NCLAT. Subsequently, a settlement was reached between the parties, and an application (I.A. No. 1453 of 2023) was filed to bring the settlement on record. The initial application to initiate CIRP was filed under Section 9 of the IBC.
Bsmart Tech Private Limited faced a Company Petition (No. 1104 of 2020) under Section 9 of the IBC, initiated by an Operational Creditor, Tubelight Communication Limited. The Adjudicating Authority admitted the petition on 23.03.2023, commencing the CIRP process. Dheerendra Kumar Singh, a member of the Suspended Board of Directors, challenged this order before the NCLAT. During the appeal process, a settlement was reached between Bsmart Tech Private Limited and Tubelight Communication Limited. All payments as per the settlement were made to the Operational Creditor. The fees and expenses of the IRP were also paid. Consequently, an application (I.A. No. 1453 of 2023) was filed to record the settlement. The NCLAT then set aside the Adjudicating Authority's order and
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The Adjudicating Authority admitted the…
The order dated…
The case involves an appeal against the order of the Adjudicating Authority, which admitted a Section 9 application filed by the Operational Creditor, initiating the CIRP process against Bsmart Tech Private Limited. The appellant, Dheerendra Kumar Singh, challenged the order dated 23.03.2023 before the NCLAT. Subsequently, a settlement was reached between the parties, and an application (I.A. No. 1453 of 2023) was filed to bring the settlement on record. The initial application to initiate CIRP was filed under Section 9 of the IBC.
Bsmart Tech Private Limited faced a Company Petition (No. 1104 of 2020) under Section 9 of the IBC, initiated by an Operational Creditor, Tubelight Communication Limited. The Adjudicating Authority admitted the petition on 23.03.2023, commencing the CIRP process. Dheerendra Kumar Singh, a member of the Suspended Board of Directors, challenged this order before the NCLAT. During the appeal process, a settlement was reached between Bsmart Tech Private Limited and Tubelight Communication Limited. All payments as per the settlement were made to the Operational Creditor. The fees and expenses of the IRP were also paid. Consequently, an application (I.A. No. 1453 of 2023) was filed to record the settlement. The NCLAT then set aside the Adjudicating Authority's order and
…The Adjudicating Authority admitted the…
The order dated…