Seeking restoration of petition, which was dismissed for non ...

Case Laws     Insolvency and Bankruptcy

April 4, 2024

Seeking restoration of petition, which was dismissed for non prosecution - The appellate tribunal acknowledges the assignment agreement between Bank of Baroda and the appellant, which transferred the debt along with all associated rights and interests. The tribunal finds that the assignment was duly recorded and brought to the attention of the adjudicating authority. - The tribunal observes that the appellant took proactive steps to protect its interests, including filing a substitution application and subsequently the restoration application. Despite some procedural delays, the tribunal finds no evidence of negligence or wilful inaction on the part of the appellant.

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