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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Sharad Kumar Sharma, Member (Judicial)
Smt. Nukala Savithri – Appellant
Versus
Bank of Maharashtra – Respondent
| Table of Content |
|---|
| 1. admission of insolvency proceedings. (Para 1 , 3 , 4 , 5 , 6) |
| 2. importance of complying with judicial requirements. (Para 2 , 8 , 10 , 12 , 18 , 19) |
| 3. challenging the adjudicating authority's decisions. (Para 7 , 16 , 20 , 22) |
| 4. judicial determination process under the ibc. (Para 9 , 11 , 13 , 14) |
| 5. final decision and remittance. (Para 24 , 26) |
JUDGMENT
(Hybrid Mode)
25.07.2024:
Oral Judgment : Justice Sharad Kumar Sharma, Member (Judicial):
1. The Prime question which engages consideration in these Company Appeals and calls for a reply by this Tribunal is as to ``whether the impugned judgments which are under challenge in these 4 Company Appeals satisfy the parameters required to be satisfied under Section 99 to be read with Section 100 of the I & B Code, 2016, for the purposes of initiation of Insolvency Resolution proceedings under Section 95 in light of the directives as issued by the Hon’ble Apex Court, in the matter where the vires of Sec. 95 was the subject matter of consideration’’.
2. Before dealing with the aforesaid issue as argued by the respective learned Counsels appearing for the parties, we feel it apt to precisely deal with the controversy which has
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