2020 (12) TMI 1254 - SCH - Insolvency and Bankruptcy

Maintainability of application - sale of paratments - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Financial Creditor or not - provisional allotment of an under construction of apartments - HELD THAT - Issue notice. Counter affidavit if any be filed within a period of four weeks from today - List the appeal on 27 January 2021.

Summary

The Supreme Court of India issued an order in a case related to the Insolvency and Bankruptcy Code 2016. The National Company Law Appellate Tribunal reversed the order of the National Company Law Tribunal. The appellant was directed not to be treated as a speculative investor based on the facts of the case, and the decision of the NCLAT was challenged in the appeal. The appeal was listed for 27 January 2021.