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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Arun Baroka, Member (Technical)
Paresh Rastogi – Appellant
Versus
M/Omkara Assets Reconstruction Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. details about loan, defaults, and securities (Para 2 , 3) |
| 2. no evidence of proper service of demands (Para 4 , 9) |
| 3. claims related to guarantee invocation (Para 6 , 8 , 10) |
| 4. explains the context of the appeals and their similarities (Para 36 , 37) |
| 5. concludes with upholding the previous authority's order (Para 68) |
ORDER
(Hybrid Mode)
[Per: Arun Baroka, Member (Technical)]
The present Appeal is filed challenging Orders dated 19th September, 2024 passed by the ‘Adjudicating Authority’ (AA, [AA- Adjudicating Authority]) (National Company Law Tribunal, New Delhi Bench, Court-III) in CP (IB) No. IB-655(ND)/2022 and IA- 319/2024 by which initiation of Personal Insolvency Resolution Process(PIRP) it has been ordered against the Appellant. Similar PIRP, [PIRP-Personal Insolvency Resolution Process] has been ordered by the AA in CP (IB) No. IB-656(ND)/2022 and IA-521/2024 against which appeal CA (AT) (Ins.) 2054/2024 has been filed and for PIRP ordered by the AA in CP (IB) No. IB-652(ND)/2022 and IA-335/2024 appeal in CA (AT) (Ins.) 2117/2024 has been filed.
Brief facts relevant for the Appeal
2. Facts necessary to be noticed for deciding this appeal are:
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