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NATIONAL COMPANY LAW TRIBUNAL
Harnam Singh Thakur, Umesh Kumar Shukla, JJ
Indian Overseas Bank – Appellant
Versus
Shivam Continental Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. key facts establishing the financial arrangements and claim submission timeline. (Para 2) |
| 2. scrutinizes loan agreements and financial obligations of the corporate debtor. (Para 4 , 6 , 7 , 9 , 10 , 11) |
| 3. court's reasoning for dismissing the claim due to procedural lapses. (Para 16) |
| 4. outcome of the application based on merits and procedural compliance. (Para 17) |
ORDER
This Interlocutory Application (hereinafter referred to as the “IA”) has been filed under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the “IBC” or “Code”) read with Rule 11 of National Company Law Tribunal Rules, 2016 (hereinafter referred to as the “NCLT Rules”) by Intec Capital Limited (hereinafter referred to as the “Applicant”) through Ms. Shikha Kadyan, Manager (Legal), who has been authorised through Board Resolution dated 03.06.2022 (a copy annexed as Annexure-1 of the IA) for seeking direction qua Rakesh Phull, Resolution Professional (hereinafter referred to as the “Respondent or “RP”) of M/s Shivam Continental Pvt. Ltd. (hereinafter referred to as “Corporate Debtor”) to admit the claim of the Applicant and direct the RP to include the Applicant as
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