The appeal challenges an order by the NCLAT, Principal Bench, New Delhi, dated November 22, 2021, which rejected a modification application filed by the appellant. The NCLAT had directed the Interim Resolution Professional (IRP) to hold a meeting of the Committee of Creditors (CoC) and decide on a resolution for the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor. The appellant, the Suspended Director of the Corporate Debtor, had sought to settle the matter with Respondent No. 2, a flat booker, and claimed the project was near completion with arranged funds. The NCLAT had previously directed the appellant to file settlement terms, but later modified its interim order to allow the IRP to constitute the CoC, as the settlement was only with one
…Anand Murti, the appellant, challenged an order passed by the National Company Law Appellate Tribunal (NCLAT) regarding a Corporate Insolvency Resolution Process (CIRP) involving Soni Infratech Private Limited, the corporate debtor. The appellant, being the Suspended Director of the Corporate Debtor, sought to modify an order that rejected a settlement plan. A flat was booked in the housing project launched by the Corporate Debtor, and subsequently, the booking was cancelled, with a demand for a refund of Rs.32,27,591/-. An application under Section 7 of the Insolvency and Bankruptcy Code (IBC) was filed against the Corporate Debtor for initiating CIRP. The NCLT admitted the application and appointed an IRP. The appellant filed an appeal before the NCLAT, which
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Respondent No.2 cancelled the booking and…
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The appeal challenges an order by the NCLAT, Principal Bench, New Delhi, dated November 22, 2021, which rejected a modification application filed by the appellant. The NCLAT had directed the Interim Resolution Professional (IRP) to hold a meeting of the Committee of Creditors (CoC) and decide on a resolution for the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor. The appellant, the Suspended Director of the Corporate Debtor, had sought to settle the matter with Respondent No. 2, a flat booker, and claimed the project was near completion with arranged funds. The NCLAT had previously directed the appellant to file settlement terms, but later modified its interim order to allow the IRP to constitute the CoC, as the settlement was only with one
…Anand Murti, the appellant, challenged an order passed by the National Company Law Appellate Tribunal (NCLAT) regarding a Corporate Insolvency Resolution Process (CIRP) involving Soni Infratech Private Limited, the corporate debtor. The appellant, being the Suspended Director of the Corporate Debtor, sought to modify an order that rejected a settlement plan. A flat was booked in the housing project launched by the Corporate Debtor, and subsequently, the booking was cancelled, with a demand for a refund of Rs.32,27,591/-. An application under Section 7 of the Insolvency and Bankruptcy Code (IBC) was filed against the Corporate Debtor for initiating CIRP. The NCLT admitted the application and appointed an IRP. The appellant filed an appeal before the NCLAT, which
…Respondent No.2 cancelled the booking and…
The NCLT admitted the…