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NATIONAL COMPANY LAW TRIBUNAL
Justice V. G. Bisht (Retd.), Sh. Prabhat Kumar, JJ
Ritwik Finance Enterprises Private Limited – Appellant
Versus
Grenesiis Constro Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. facts of the case and parties involved. (Para 1 , 2 , 3 , 4) |
| 2. submissions and arguments from the applicant. (Para 5 , 6 , 7 , 8 , 9 , 10) |
| 3. counterarguments presented by the respondent. (Para 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20 , 21 , 22) |
| 4. court's analysis of debt and transactions. (Para 23 , 24 , 25 , 26 , 27 , 28 , 29) |
| 5. court's rationale on settlement and application dismissal. (Para 30 , 31) |
| 6. conclusion and order of the court. (Para 32 , 33 , 34) |
ORDER
Brief Facts:
1. This Company Petition is filed under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Ritwik Finance Enterprises Private Limited ("hereinafter referred to as the Financial Creditor/Applicant"), seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Grenesiis Constro Pvt. Ltd. (hereinafter referred to as the “Corporate Debtor/Respondent").
2. The Applicant is a non-banking financial company registered under the Companies Act, 1956 having CIN U70101WB1987PTC043367, incorporated on 30.11.1987 having address at 33, C.R. Avenue 9th Floor Room No. 903 Kolkata (West Bengal) 700012 and also at F. No.-504, 5th Floor Sdc Ashok Millborn D-38, Subhash Marg, C- Sc
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