The case involves an appeal against the order of the Adjudicating Authority (NCLT) which admitted a Section 9 application filed by the Operational Creditor, initiating the CIRP process against Bsmart Tech Private Limited. The initial order was dated 23.03.2023. An IA was filed to withdraw the Company Petition No. 1104 of 2020. The order dated 23.03.2023 was challenged by Mr. Dheerendra Kumar Singh, a member of the suspended board of directors, before the NCLAT.
Bsmart Tech Private Limited faced a Company Petition No. 1104 of 2020 under Section 9 of the IBC, filed by an Operational Creditor. The Adjudicating Authority admitted the petition on 23.03.2023, initiating 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 the parties on 05.04.2023. The Operational Creditor confirmed that the payment under the settlement had been made, and the IRP's fees and expenses were also paid. The NCLAT took the settlement on record and set aside the initial order, disposing of the appeal. Subsequently, the NCLT dismissed the Company Petition No. 1104 of 2020 as withdrawn, effectively terminating the CIRP
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Company Petition No.…
Adjudicating Authority…
The case involves an appeal against the order of the Adjudicating Authority (NCLT) which admitted a Section 9 application filed by the Operational Creditor, initiating the CIRP process against Bsmart Tech Private Limited. The initial order was dated 23.03.2023. An IA was filed to withdraw the Company Petition No. 1104 of 2020. The order dated 23.03.2023 was challenged by Mr. Dheerendra Kumar Singh, a member of the suspended board of directors, before the NCLAT.
Bsmart Tech Private Limited faced a Company Petition No. 1104 of 2020 under Section 9 of the IBC, filed by an Operational Creditor. The Adjudicating Authority admitted the petition on 23.03.2023, initiating 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 the parties on 05.04.2023. The Operational Creditor confirmed that the payment under the settlement had been made, and the IRP's fees and expenses were also paid. The NCLAT took the settlement on record and set aside the initial order, disposing of the appeal. Subsequently, the NCLT dismissed the Company Petition No. 1104 of 2020 as withdrawn, effectively terminating the CIRP
…Company Petition No.…
Adjudicating Authority…