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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Arun Baroka, Member (Technical)
Edelweiss Asset Reconstruction Company Ltd – Appellant
Versus
Takshashila Heights Pvt Ltd – Respondent
| Table of Content |
|---|
| 1. overview of the case and loan details. (Para 1 , 2 , 3 , 4) |
| 2. description of defaults and restructuring attempts. (Para 5 , 11 , 12) |
| 3. responses from the corporate debtor admitting defaults. (Para 6 , 7 , 8) |
| 4. legal arguments regarding the recovery process. (Para 9 , 10) |
| 5. discussion on court precedents and principles. (Para 13 , 14 , 15) |
| 6. analysis of the adjudicating authority's discretionary powers. (Para 18 , 19) |
| 7. court's appraisal of facts and legal framework. (Para 31 , 32 , 33) |
| 8. clarification of court's discretion under the ibc. (Para 40 , 41 , 42 , 43) |
| 9. final considerations and recommendations. (Para 44 , 45 , 46 , 47) |
| 10. conclusion and ultimately granting the relief. (Para 48 , 49 , 50 , 51) |
[Per: Arun Baroka, Member (Technical)]
This Appeal has been filed by Edelweiss Asset Reconstruction Company Ltd (EARCL/Appellant), as Trustee of EARC Trust SC 444, assailing the Order dated 06.11.2024 passed by the National Company Law Tribunal, Ahmedabad Bench (“Adjudicating Authority/NCLT”) in CP (IB) No. 104 (AHM)/2024, whereby the Appellant’s Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 ("IBC”) seeking initiation of Corporate Insolvency R
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