The case concerns the rejection of an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the National Company Law Tribunal (NCLT), Ahmedabad Bench, due to a defective affidavit. The respondent-bank's application was initially rejected, leading to appeals before the NCLAT and ultimately the Supreme Court.
HDFC Bank Limited filed an application under Section 7 of the IBC against Livein Aqua Solutions Private Limited.
The NCLT, Ahmedabad Bench, rejected the application due to a defective affidavit.
The respondent-bank (HDFC) filed an appeal before the NCLAT, which allowed the appeal and restored the application.
Livein Aqua Solutions Private Limited appealed to the Supreme Court.
The application was rejected on 18.06.2024 as the defects remained unattended to, despite the order dated 08.02.2024.
The NCLAT noted that the proviso to Section 7(5)(b) of the IBC was not adhered to by the NCLT.
No notice was given to the respondent-bank under the proviso to Section 7(5)(b) of the IBC.
…Sign in to view the parties.
Application…
Affidavit depos…
The case concerns the rejection of an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the National Company Law Tribunal (NCLT), Ahmedabad Bench, due to a defective affidavit. The respondent-bank's application was initially rejected, leading to appeals before the NCLAT and ultimately the Supreme Court.
HDFC Bank Limited filed an application under Section 7 of the IBC against Livein Aqua Solutions Private Limited.
The NCLT, Ahmedabad Bench, rejected the application due to a defective affidavit.
The respondent-bank (HDFC) filed an appeal before the NCLAT, which allowed the appeal and restored the application.
Livein Aqua Solutions Private Limited appealed to the Supreme Court.
The application was rejected on 18.06.2024 as the defects remained unattended to, despite the order dated 08.02.2024.
The NCLAT noted that the proviso to Section 7(5)(b) of the IBC was not adhered to by the NCLT.
No notice was given to the respondent-bank under the proviso to Section 7(5)(b) of the IBC.
…Application…
Affidavit depos…