2021 (1) TMI 1250 - AT - Insolvency and Bankruptcy

Joint request has been made for adjournment of the appeal to 1st April, 2021 - Recovery of balance dues - HELD THAT - Since IRP is not in attendance, let a notice be served upon him through electronic mode to appear and file status report in regard to CIRP. Let the matter be fixed on 6th April, 2021.

Summary

The Appellate Tribunal in New Delhi heard a case where a settlement of Rs. 50 Crores was paid by the Appellant to Respondent No.1, with the balance dues to be cleared by 31st March, 2021. The appeal was adjourned to 1st April, 2021, with the IRP requested to appear and file a status report on the CIRP by electronic mode. The Appellant was allowed to file Terms of Settlement, and the matter was scheduled for further hearing on 6th April, 2021. The Committee of Creditors was instructed not to proceed until the next date.