The case involves a civil appeal before the Supreme Court of India concerning the corporate insolvency resolution process of Spaze Towers Private Limited. An application in Form-FA was submitted seeking withdrawal of the corporate insolvency resolution process under Regulation 30A of the Insolvency and Bankruptcy Board of India Regulations, 2016, before the National Company Law Tribunal, New Delhi. The initial application bearing I.B. No. 889(ND) of 2020, filed by Vandana Raheja & Ors. against Spaze Towers Private Limited, was admitted by the Adjudicating Authority on 28.10.2021.
Vandana Raheja and several others filed an application (I.B. No. 889(ND) of 2020) against Spaze Towers Private Limited before the National Company Law Tribunal (NCLT), New Delhi, under Section 7 of the Insolvency and Bankruptcy Code, 2016. This application was admitted on 28.10.2021. Subsequently, the parties reached a settlement and filed an application in Form-FA seeking withdrawal of the corporate insolvency resolution process, as per Regulation 30A of the IBBI Regulations, 2016. The Interim Resolution Professional confirmed that all dues and fees had been paid. The Supreme Court considered the settlement agreement dated 15.11.2021 and the undertaking of the parties to abide by the consent terms. The relevance of the settlement is that it resolves the insolvency
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Vandana Raheja & Ors. filed an application…
The Adjudicating…
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The case involves a civil appeal before the Supreme Court of India concerning the corporate insolvency resolution process of Spaze Towers Private Limited. An application in Form-FA was submitted seeking withdrawal of the corporate insolvency resolution process under Regulation 30A of the Insolvency and Bankruptcy Board of India Regulations, 2016, before the National Company Law Tribunal, New Delhi. The initial application bearing I.B. No. 889(ND) of 2020, filed by Vandana Raheja & Ors. against Spaze Towers Private Limited, was admitted by the Adjudicating Authority on 28.10.2021.
Vandana Raheja and several others filed an application (I.B. No. 889(ND) of 2020) against Spaze Towers Private Limited before the National Company Law Tribunal (NCLT), New Delhi, under Section 7 of the Insolvency and Bankruptcy Code, 2016. This application was admitted on 28.10.2021. Subsequently, the parties reached a settlement and filed an application in Form-FA seeking withdrawal of the corporate insolvency resolution process, as per Regulation 30A of the IBBI Regulations, 2016. The Interim Resolution Professional confirmed that all dues and fees had been paid. The Supreme Court considered the settlement agreement dated 15.11.2021 and the undertaking of the parties to abide by the consent terms. The relevance of the settlement is that it resolves the insolvency
…Vandana Raheja & Ors. filed an application…
The Adjudicating…
Sign in to view related legal provisions.