NATIONAL COMPANY LAW TRIBUNAL

CHANDIGARH BENCH (COURT-I)

CP (IB) 69/CHD/HRY/2022

IN THE MATTER OF:

Automax Constructions Limited

Through its representative Jitendra Bisht

Having its registered office at:

Flat No.3, Khasra No.301/2, Ground Floor

100 Feet Road, Village Ghitorni

South west Delhi 110030 … Applicant/Creditor

Versus

Spaze Towers Private Limited

Having its registered office at:

Tower C, SPAZEDGE Sector-47

Gurugram-Sohna Road Gurugram-122002 …Respondent

Order Delivered on: 25.04.2024

SECTION: Section 7 of IBC 2016

CORAM:

SH. HARNAM SINGH THAKUR, HON’BLE MEMBER (J)

SH. L. N. GUPTA, HON’BLE MEMBER (T)

PRESENT:

For the Applicant : Adv. Ujjal Banerjee

For the Respondent : Adv. Sumesh Dhawan

Judgement

PER: SH. HARNAM SINGH THAKUR M(J) & SH. L. N. GUPTA, M(T)

Automax Constructions Limited (for brevity, the “Applicant”) has filed the present application under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 with a prayer to initiate the Corporate Insolvency process against Spaze Towers Private Limited (for brevity, the “Respondent”).

2. The Respondent namely, Spaze Towers Private Limited is a Compan