Remanded

In the matter of Vibrant Buildwell Private Limited [I.A.(IBC)-4289-2023 in C.P.(IB)No.983-ND-2020]

NCLT11 Sept 2023I.A.(IBC)-4289-2023 in C.P.(IB)No.983-ND-2020

Case brief

AI extract

What is this about?

An application by an ex-director and shareholder granted leave to place additional documents on record. Notice issued to the resolution professional, committee of creditors, and another entity for reply within a week.

What did the court decide?

Notice issued to respondents granted one week to file reply with advance service.

What the court decided

In the matter of Vibrant Buildwell Private Limited… — Insolvency and Bankruptcy | NCLT (2023)

¶1

IN THE NATIONAL COMPANY LAW TRIBUNAL

¶2

NEW DELHI BENCH

¶3

COURT-IV

¶4

I.A.(IBC)/4289/2023 IN C.P.(IB)No.983/ND/2020

¶5

IN THE MATTER OF:

¶6

Raj Kumar Sahani

¶7

… Applicant Versus

¶8

Mr. Ashish Singh Resolution Professional of M/s. Vibrant Buildwell Private Limited

¶9

IN THE MATTER OF:

¶10

M/s. Dilwara Leasing and Investment Limited

¶11

… Financial Creditor

¶12

Versus

¶13

M/s. Vibrant Buildwell Private Limited

¶14

… Corporate Debtor

¶15

CORAM:

¶16

SH. MANNI SANKARIAH SHANMUGA SUNDARAM, HON’BLE MEMBER (JUDICIAL)

¶17

DR. BINOD KUMAR SINHA, HON’BLE MEMBER (TECHNICAL)

¶18

Order Delivered on:11.09.2023

¶19

ORDER

¶20

PER: SH. MANNI SANKARIAH SHANMUGA SUNDARAM, MEMBER (JUDICIAL)

¶21

The instant interlocutory application is filed on behalf of Mr. Raj Kumar Sahani, (‘applicant’) who is the ex-director and shareholder of M/s. Vibrant Buildwell Private Limited (‘Corporate Debtor’) under Rule 11 of the National Company Law Tribunal Rules, 2016 (‘NCLT Rules’) seeking the following prayer(s):-

¶22

¶23

I.A.(IBC)/4289/2023 IN C.P.(IB)No.983/ND/2020 Date of Order:

¶24

i) Grant leave to the Applicant to place on record the additional documents and grounds mentioned hereinabove;

¶25

ii) Pass any other orders as this Hon’ble Adjudicating Authority may deem fit and proper in the facts and circumstances of the present case.

¶26

Heard the Learned Counsel for the Applicant. Perused the Records. Prima facie, the Present Application is maintainable. Hence, issue Notice to the Respondents i.e., (i) Mr. Ashish Singh, Resolution Professional of M/s. Vibrant Buildwell Private Limited (‘Respondent No.1’), (ii) Committee of Creditors of Vibrant Buildwell Private Limited (‘Respondent No.2’) and (iii) M/s. Bishwanath Traders and Investment Limited (‘Respondent No.3’).

¶27

The Applicant is directed to serve the notice of the present application to the Respondents along with the present Interlocutory Application through email as well as by speed post within a period of 3 (three) days from pronouncement of this order. The Applicant is further directed to file affidavit of service along with tracking report.

¶28

A period of one (1) week is granted to the Respondents for filing reply with advance service to the applicant from the date of receipt of copy of the notice and one week for filing rejoinder, if any, thereto from the date of receipt of copy of reply is granted to the Applicant.

¶29

List the case on 04.10.2023

¶30

Sd/-

¶31

Sd/-

¶32

(DR.BINOD KUMAR SINHA) (MANNI SANKARIAH SHANMUGA SUNDARAM) MEMBER (T) MEMBER (J)

¶33

¶34

I.A.(IBC)/4289/2023 IN C.P.(IB)No.983/ND/2020 Date of Order:

In the matter of Vibrant Buildwell Private Limited [I.A.(IBC)-4289-2023 in C.P.(IB)No.983-ND-2020]

Case brief

What is this about?

What did the court decide?

What the court decided

In the matter of Vibrant Buildwell Private Limited [I.A.(IBC)-4289-2023 in C.P.(IB)No.983-ND-2020]

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

Similar cases