NCLT JUDGEMENT ON SECTION 3(11), 7, 13, 14, 31, 32, 33 OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016, RULE 6 OF THE INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY) RULES, 2016, SECTION 125, 132 OF THE COMPANIES ACT, 1956, SECTION 3, 18, 19, 32, 32(A), 32(3)(B), 33, 34 OF THE MAHARASHTRA STAMP ACT, 1958, SECTION 29, 33, 34, 35, 38, 40 OF THE INDIAN STAMP ACT, 1899, SECTION 62 OF THE INDIAN CONTRACT ACT, 1872 AND SECTION 11, 11(13), 11(6)(A), 29(A) OF THE ARBITRATION AND CONCILIATION ACT, 1996
NAME MOBILE NO. E-MAIL I’D RANJEET KUMAR 8383098478 , 9667769795 rk@courtkutchehry.com JAI THAKUR 8130703334 , 9355723300 jai.thakur@courtkutchehry.com RAJEEV RANJAN 9334553249 rajiv.ranjan@courtkutchehry.com ASHOK MISHRA 9718327746 sales@courtkutchehry.com RAVI KUMAR ravi.singh@courtkutchehry.com Vistra Itcl (India) Limited Vs. Satra Properties (India) Limited, (2020) 08 NCLT CK 0089 NCLT allowed the petition filed by the petitioner, under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'code') read with Rules 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority), 2016 (for brevity 'the Rules') with a prayer to initiate the Corporate Insolvency process against the Corporate Debtor. While allowing the application NCLT held that it is not the case of the Corporate Debtor that they have not received funds from the Petitioner by issuing debentures and the debentures were shown in t...