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NATIONAL COMPANY LAW TRIBUNAL
Bidisha Banerjee, Judicial Member, Siddharth Mishra, Technical Member
Aditya Birla Finance Limited – Appellant
Versus
Saket Infra Developers Pvt Ltd – Respondent
| Table of Content |
|---|
| 1. introduction and factual matrix of section 7 petition. (Para 1 , 2 , 3) |
| 2. financial creditor's submissions on debt, default, section 10a inapplicability. (Para 4 , 6) |
| 3. corporate debtor's defenses: section 10a, msme, forum shopping. (Para 5) |
| 4. court analysis rejecting defenses, confirming debt and post-10a default. (Para 7) |
| 5. dismissal of ia, admission of petition, cirp initiation and moratorium. (Para 8 , 9 , 10) |
ORDER
PER Bidisha Banerjee, Member (Judicial):
1. The Court congregated through hybrid mode.
2. Heard the Learned Counsels for both the parties.
3. Factual matrix:
The instant company petition has been filed under Section 7 of the Insolvency and Bankruptcy Code, for brevity I&B Code, read with Rule 4 of the Insolvency and Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, by “Aditya Birla Finance Limited” hereinafter referred to as “Financial Creditor”/ “Applicant” against “Saket Infra Developers Pvt Ltd ”, hereinafter referred to as “Corporate Debtor”/ “Respondent” seeking direction to initiate Corporate Insolvency Resolution Process (for brevity “CIRP”) in respect of the Corporate Debtor due to a default in repayment of a financial debt a
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