The case involves an application (MA 1082/2019) filed by the Financial Creditor EARCL seeking an interim stay on the distribution of proceeds of settlement received from R-Infra by the Corporate Debtor until the final disposal of the original application and the Liquidator application before the National Company Law Tribunal (NCLT), Mumbai Bench.
The Financial Creditor, EARCL, has filed MA 1082/2019 seeking an interim stay on the distribution of proceeds of settlement received by the Corporate Debtor from R-Infra. The application is filed in the context of ongoing liquidation proceedings, as evidenced by the presence of the Liquidator. The Financial Creditor is seeking to prevent the distribution of these proceeds until the original application and the Liquidator's application are fully considered by the Tribunal. The settlement proceeds are relevant because they represent assets that could potentially be used to satisfy the debts owed to the Financial Creditor and other creditors. The status quo order suggests the court acknowledges the potential prejudice to the Financial Creditor if the proceeds are
…Sign in to view the parties.
Order sheet of the…
Deadline for R1 and R2…
The case involves an application (MA 1082/2019) filed by the Financial Creditor EARCL seeking an interim stay on the distribution of proceeds of settlement received from R-Infra by the Corporate Debtor until the final disposal of the original application and the Liquidator application before the National Company Law Tribunal (NCLT), Mumbai Bench.
The Financial Creditor, EARCL, has filed MA 1082/2019 seeking an interim stay on the distribution of proceeds of settlement received by the Corporate Debtor from R-Infra. The application is filed in the context of ongoing liquidation proceedings, as evidenced by the presence of the Liquidator. The Financial Creditor is seeking to prevent the distribution of these proceeds until the original application and the Liquidator's application are fully considered by the Tribunal. The settlement proceeds are relevant because they represent assets that could potentially be used to satisfy the debts owed to the Financial Creditor and other creditors. The status quo order suggests the court acknowledges the potential prejudice to the Financial Creditor if the proceeds are
…Order sheet of the…
Deadline for R1 and R2…