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NATIONAL COMPANY LAW TRIBUNAL
MR GAJESH LABHCHAND JAIN – Appellant
Versus
Sunbourne Developers Private Limited (Sole CoC Member / Sole Operational Creditor) – Respondent
IN THE NATIONAL COMPANY LAW TRIBUNAL
MUMBAI BENCH
COURT – IV
CORAM:
MS. ANU JAGMOHAN SINGH SHRI KISHORE VEMULAPALLI MEMBER (Technical) MEMBER (Judicial)
ORDER SHEET OF THE HEARING HELD ON 07.03.2024
NAME OF THE PARTIES: Sunbourne Developers Private Limited
Vs
Thyme & Reason Hospitality LLP
SECTION: 9, 12A OF INSOLVENCY AND BANKRUPTCY CODE, 2016.
O R D E R
1. Mrs. Khushboo Shah Rajani i/b AKR Advisors LLP, Ld. Counsel for
Resolution Professional present (VC).
2. IA-967/2024: This is an Application filed under Section 12A of the IBC, 2016
(1) Plea of alternative remedy is a self-imposed restriction by superior Courts and is never an absolute bar unless barred by statute.
(2) Application under Section 12A of Insolvency and Bankruptc....
The Court upheld the supremacy of the CoC's decisions and justified the extension of the CIRP period based on procedural necessities.
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