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NATIONAL COMPANY LAW TRIBUNAL
Sunil Kumar Aggarwal, Judicial Member, Radhakrishna Sreepada, Technical Member
Anup Tripathi – Appellant
Versus
Nandhini Hotels Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. procedural history and prior remands noted. (Para 1 , 2) |
| 2. petitioners meet threshold and prove financial debt default. (Para 3 , 7) |
| 3. respondent contests threshold, authorisation, limitation, procedural defects. (Para 4 , 6 , 8 , 9) |
| 4. petitioners rebut res judicata, limitation, party impleadment. (Para 5) |
| 5. project threshold is 10% of total 315 units. (Para 10) |
| 6. factual background of real estate project and allottee claims. (Para 11) |
| 7. authorisation letters invalid and suspect. (Para 12) |
| 8. form defects and missing verifying affidavit fatal. (Para 13 , 14) |
| 9. petition dismissed for procedural and threshold failures. (Para 15 , 16) |
O R D E R
Per Radhakrishna Sreepada, Member (Technical):
1. The present Petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the IBC or the Code) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules,2016, on 27.07.2021 by Shri Anup Tripathi & 38 Others seeking initiation of the CIRP against M/s. Nandhini Hotels Pvt. Ltd (hereinafter referred to as ‘Respondent / Corporate Debtor’. The Respondent Company - the Corporate Debtor, was incorporated o
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