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NATIONAL COMPANY LAW TRIBUNAL
SHRI. SUNIL KUMAR AGGARWAL, SHRI. RADHAKRISHNA SREEPADA, JJ
Piramal Capital & Housing Finance Ltd. – Appellant
Versus
Atria Brindavan Power Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. insolvency petition filed under ibc. (Para 1 , 2 , 3) |
| 2. corporate debtor's financial responsibility and defaults. (Para 4 , 5 , 6) |
| 3. arguments presented by the respondent regarding debt. (Para 7 , 8 , 9) |
| 4. respondent contends that no valid claim exists due to disputes. (Para 10 , 11 , 12) |
| 5. legal precedents referenced by both parties. (Para 13 , 14 , 15) |
| 6. creditors are entitled to pursue multiple remedies. (Para 16 , 17 , 18) |
| 7. court dismisses petition for inadequate proof of debt. (Para 19 , 20) |
ORDER
1. The present Petition is filed under section 7 of the Insolvency and Bankruptcy Code, 2016 (for brevity ‘IBC’/Code) read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules 2016 on 20.12.2022 by Piramal Capital and Housing Finance Limited and Omkara Assets Reconstruction Private Limited seeking to initiate Corporate Insolvency Resolution Process in respect of Atria Brindavan Power Private Limited for committing default in payment of Rs. 428,39,20,221/- (Rupees Four Hundred Twenty Eight Crore Thirty-Nine Lakh Twenty Thousand Two Hundred and Twenty-One Rupees Only) as on 23.05.2024 with further interest accruing thereon and the d
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