Search Results Page

Search Results

1 - 10 of 21 (1.46 seconds)
Documents citing Sabari Realty Private Limited vs Sivana Realty Private Limited & Ors on 2 November, 2023

Beacon Trusteeship Limited vs Jayesh Sanghrajka & Ors on 27 May, 2024

"24. The above judgment does not help the Appellant in the present case since in the above case the question was distribution of amount under the Resolution Plan to the Operational Creditors inter se and this Tribunal directed payment of amount to the Operational Creditors in the same proportion to uphold the Resolution Plan. The present is not a case of distribution of any amount rather Resolution Plan provides for ways and manner to complete the project and handover units to the allottees. Allottees have been classified in two groups - 'Affected' and 'Unaffected', as noted above, and we have found the classification justified in the treatment of claims. Learned counsel for the Appellant has failed to point out any violation of any provision of law by aforesaid classification of 'Affected' and 'Unaffected' homebuyers. We, thus, are of the view that the Resolution Plan does not violate any provision of law.
National Company Law Appellate Tribunal Cites 38 - Cited by 0 - A Bhushan - Full Document

Icici Prudential Venture Capital Fund ... vs Mr. Jayesh Sanghrajka & Ors on 27 May, 2024

"24. The above judgment does not help the Appellant in the present case since in the above case the question was distribution of amount under the Resolution Plan to the Operational Creditors inter se and this Tribunal directed payment of amount to the Operational Creditors in the same proportion to uphold the Resolution Plan. The present is not a case of distribution of any amount rather Resolution Plan provides for ways and manner to complete the project and handover units to the allottees. Allottees have been classified in two groups - 'Affected' and 'Unaffected', as noted above, and we have found the classification justified in the treatment of claims. Learned counsel for the Appellant has failed to point out any violation of any provision of law by aforesaid classification of 'Affected' and 'Unaffected' homebuyers. We, thus, are of the view that the Resolution Plan does not violate any provision of law.
National Company Law Appellate Tribunal Cites 38 - Cited by 0 - A Bhushan - Full Document

Icici Prudential Venture Capital Fund ... vs Jayesh Sanghrajka & Ors on 27 May, 2024

"24. The above judgment does not help the Appellant in the present case since in the above case the question was distribution of amount under the Resolution Plan to the Operational Creditors inter se and this Tribunal directed payment of amount to the Operational Creditors in the same proportion to uphold the Resolution Plan. The present is not a case of distribution of any amount rather Resolution Plan provides for ways and manner to complete the project and handover units to the allottees. Allottees have been classified in two groups - 'Affected' and 'Unaffected', as noted above, and we have found the classification justified in the treatment of claims. Learned counsel for the Appellant has failed to point out any violation of any provision of law by aforesaid classification of 'Affected' and 'Unaffected' homebuyers. We, thus, are of the view that the Resolution Plan does not violate any provision of law.
National Company Law Appellate Tribunal Cites 38 - Cited by 0 - A Bhushan - Full Document

Beacon Trusteeship Limited vs Jayesh Sanghrajka on 27 May, 2024

"24. The above judgment does not help the Appellant in the present case since in the above case the question was distribution of amount under the Resolution Plan to the Operational Creditors inter se and this Tribunal directed payment of amount to the Operational Creditors in the same proportion to uphold the Resolution Plan. The present is not a case of distribution of any amount rather Resolution Plan provides for ways and manner to complete the project and handover units to the allottees. Allottees have been classified in two groups - 'Affected' and 'Unaffected', as noted above, and we have found the classification justified in the treatment of claims. Learned counsel for the Appellant has failed to point out any violation of any provision of law by aforesaid classification of 'Affected' and 'Unaffected' homebuyers. We, thus, are of the view that the Resolution Plan does not violate any provision of law.
National Company Law Appellate Tribunal Cites 38 - Cited by 0 - A Bhushan - Full Document

Beacon Trusteeship Limited vs Jayesh Sanghrajka on 27 May, 2024

"24. The above judgment does not help the Appellant in the present case since in the above case the question was distribution of amount under the Resolution Plan to the Operational Creditors inter se and this Tribunal directed payment of amount to the Operational Creditors in the same proportion to uphold the Resolution Plan. The present is not a case of distribution of any amount rather Resolution Plan provides for ways and manner to complete the project and handover units to the allottees. Allottees have been classified in two groups - 'Affected' and 'Unaffected', as noted above, and we have found the classification justified in the treatment of claims. Learned counsel for the Appellant has failed to point out any violation of any provision of law by aforesaid classification of 'Affected' and 'Unaffected' homebuyers. We, thus, are of the view that the Resolution Plan does not violate any provision of law.
National Company Law Appellate Tribunal Cites 38 - Cited by 0 - A Bhushan - Full Document

Icici Prudential Venture Capital Fund ... vs Mr. Jayesh Sanghrajka & Ors on 27 May, 2024

"24. The above judgment does not help the Appellant in the present case since in the above case the question was distribution of amount under the Resolution Plan to the Operational Creditors inter se and this Tribunal directed payment of amount to the Operational Creditors in the same proportion to uphold the Resolution Plan. The present is not a case of distribution of any amount rather Resolution Plan provides for ways and manner to complete the project and handover units to the allottees. Allottees have been classified in two groups - 'Affected' and 'Unaffected', as noted above, and we have found the classification justified in the treatment of claims. Learned counsel for the Appellant has failed to point out any violation of any provision of law by aforesaid classification of 'Affected' and 'Unaffected' homebuyers. We, thus, are of the view that the Resolution Plan does not violate any provision of law.
National Company Law Appellate Tribunal Cites 38 - Cited by 0 - A Bhushan - Full Document

Ahuja Furnishers Pvt. Ltd vs Subodh Kumar Agarwal Former Resolution ... on 11 December, 2024

67. The SRA stated that yet in other case, this Appellate Tribunal gave similar ration i.e., in the case of Sabari Realty Private Limited v. Sivana Realty Private Limited & Ors., Company Appeal (AT) (Insolvency) No. 1162 of 2023, where it upheld the approval of a resolution plan which created two separate classes within the same class of creditors/ homebuyers, i.e., (i) affected homebuyers, and (ii) unaffected homebuyers, on the ground that the classification was justified in the facts and circumstances and there was no violation of any provision of law, upholding the commercial wisdom of CoC.
National Company Law Appellate Tribunal Cites 39 - Cited by 0 - Full Document

Ncc Ltd vs Golden Jubilee Hotels Private Limited & ... on 11 December, 2024

67. The SRA stated that yet in other case, this Appellate Tribunal gave similar ration i.e., in the case of Sabari Realty Private Limited v. Sivana Realty Private Limited & Ors., Company Appeal (AT) (Insolvency) No. 1162 of 2023, where it upheld the approval of a resolution plan which created two separate classes within the same class of creditors/ homebuyers, i.e., (i) affected homebuyers, and (ii) unaffected homebuyers, on the ground that the classification was justified in the facts and circumstances and there was no violation of any provision of law, upholding the commercial wisdom of CoC.
National Company Law Appellate Tribunal Cites 39 - Cited by 0 - Full Document

Infinity Interiors Private Limited vs Subodh Kumar Agarwal on 11 December, 2024

67. The SRA stated that yet in other case, this Appellate Tribunal gave similar ration i.e., in the case of Sabari Realty Private Limited v. Sivana Realty Private Limited & Ors., Company Appeal (AT) (Insolvency) No. 1162 of 2023, where it upheld the approval of a resolution plan which created two separate classes within the same class of creditors/ homebuyers, i.e., (i) affected homebuyers, and (ii) unaffected homebuyers, on the ground that the classification was justified in the facts and circumstances and there was no violation of any provision of law, upholding the commercial wisdom of CoC.
National Company Law Appellate Tribunal Cites 39 - Cited by 0 - Full Document
1   2 3 Next