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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Barun Mitra, Member (Technical)
Rita Malhotra, Bina Chopra – Appellant
Versus
ORRIS INFRASTRUCTURE PVT. LTD. – Respondent
| Table of Content |
|---|
| 1. introduction of appeal under ibc provisions. (Para 1 , 2) |
| 2. issue of mar payment obligations. (Para 3 , 5) |
| 3. rival arguments on nature of claims and obligations of the corporate debtor. (Para 6 , 7 , 8) |
| 4. discussion on amendments to ibc relating to maintainability of claims. (Para 10 , 11) |
| 5. conclusion and ruling on legal status as financial creditors. (Para 15 , 19) |
JUDGMENT
[Per: Barun Mitra, Member (Technical)]
The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 (‘IBC’ in short) by the Appellant arises out of the Order dated 19.09.2023 (hereinafter referred to as ‘Impugned Order’) passed by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi) in C.P.(IB)234(PB)/2019. By the Impugned Order, the Adjudicating Authority dismissed the Section 7 application filed by the Appellants for initiating Corporate Insolvency Resolution Process (‘CIRP’ in short) against M/s Orris Infrastructure Pvt Ltd – Corporate Debtor. Aggrieved by this impugned order, the present appeal has been preferred by the Appellants.
2. We have heard Shri Rajat Malhotra, Learned Advocate appearing on behalf of the Appellants and Shri P. N
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