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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Ashok Bhushan, J
Atul Paper Pvt. Ltd. – Appellant
Versus
Rakesh Kumar Jain, Liquidator for RG Infra Build Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. overview of appeals filed (Para 1 , 2) |
| 2. court’s considerations on the matter (Para 3 , 8 , 9 , 10 , 13 , 15 , 16) |
| 3. arguments presented by parties (Para 5 , 6 , 7) |
| 4. court's reasoning on rights and claims (Para 12 , 14 , 18) |
| 5. final decision and directions (Para 20) |
JUDGMENT
Ashok Bhushan, J.
These three Appeal(s) have been filed challenging the same order dated 06.05.2024 passed by National Company Law Tribunal, New Delhi Bench (Court – II) in IA No.355 of 2021 and CA No.26/2023 in CP (IB)- 917(ND) 2019. Company Appeal (AT) (Ins.) Nos.1100 & 1101 of 2024 have been filed by M/s Atul Paper Pvt. Ltd., who is in possession of B-101, First Floor at RG City Centre and has filed claim before the Liquidator of the Corporate Debtor (“CD”) – M/s RG Infra Build Pvt. Ltd. Company Appeal (AT) (Ins.) Nos.1311 of 2024 has been filed by the Liquidator of the CD, challenging the part of direction issued by Adjudicating Authority in IA No.355 of 2021, whereas Company Appeal (AT) (Ins.) Nos.2137 of 2024 has been filed by Punjab National Bank, a Financial Creditor of the CD, challenging part of the order passed in IA No.355 of 2021.
2. Brief facts of the case necessary to be noticed f
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