The case involves appeals against a common judgment and order dated 02.01.2023 passed by the National Company Law Appellate Tribunal (NCLAT) in Company Appeal No.626/2021. The NCLAT had dismissed the appeal preferred by the AVJ Heightss Apartment Owners Association against an order dated 20.05.2021 passed by the NCLT in I.A. No.1261/2020 in CP (IB) No.654 (PB)/2019.
IIFL's claim was initially rejected by the Resolution Professional (RP) on 24.01.2020 due to inability to verify the claim against the corporate debtor's records.
The NCLT allowed IIFL's claim, but the NCLAT dismissed the appeal and affirmed the NCLT's order.
An arbitral award dated 03.07.2024 was passed in favor of IIFL for Rs.85,00,00,000/- with interest.
The appellants allege that IIFL's entire claim is sham and bogus.
The CoC approved a resolution plan on 04.07.2024, but the application seeking approval was filed on 12.07.2024 and is pending before the NCLT Principal Bench, New Delhi for almost two years.
The arbitral award is now subject to challenge before the Delhi High Court under Section 34 of the Arbitration Act.
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IIFL's claim was…
NCLAT dismissed the…
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The case involves appeals against a common judgment and order dated 02.01.2023 passed by the National Company Law Appellate Tribunal (NCLAT) in Company Appeal No.626/2021. The NCLAT had dismissed the appeal preferred by the AVJ Heightss Apartment Owners Association against an order dated 20.05.2021 passed by the NCLT in I.A. No.1261/2020 in CP (IB) No.654 (PB)/2019.
IIFL's claim was initially rejected by the Resolution Professional (RP) on 24.01.2020 due to inability to verify the claim against the corporate debtor's records.
The NCLT allowed IIFL's claim, but the NCLAT dismissed the appeal and affirmed the NCLT's order.
An arbitral award dated 03.07.2024 was passed in favor of IIFL for Rs.85,00,00,000/- with interest.
The appellants allege that IIFL's entire claim is sham and bogus.
The CoC approved a resolution plan on 04.07.2024, but the application seeking approval was filed on 12.07.2024 and is pending before the NCLT Principal Bench, New Delhi for almost two years.
The arbitral award is now subject to challenge before the Delhi High Court under Section 34 of the Arbitration Act.
…IIFL's claim was…
NCLAT dismissed the…
Sign in to view related legal provisions.