Disposed

In the matter of Satra Properties (India) Limited [Ia 986-2024 in C.P. (IB)-1632(MB)2019]

NCLT11 Mar 2024IA 986-2024 in C.P. (IB)-1632(MB)2019

Case brief

AI extract

What is this about?

A new interim application seeking notice against respondents Darshan Developers and Pravin Viram Satra for defaulting on an earlier order under Section 7 and 60(5) of the IB Code was disposed of by directing issuance and service of notice.

What did the court decide?

Directing Registry and Applicant to issue notice to Respondents to file compliance report.

In the matter of Satra Properties (India) Limited [Ia… — Insolvency and Bankruptcy | NCLT (2024)

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Item No. 9

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NATIONAL COMPANY LAW TRIBUNAL COURT ROOM NO. 1, MUMBAI BENCH

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IA 986/2024 (NEW IA) in C.P. (IB)/1632(MB)2019

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CORAM:

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SH. PRABHAT KUMAR JUSTICE VIRENDRASINGH BISHT (Retd.) HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)

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ORDER SHEET OF THE HEARING ON 11.03.2024

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NAME OF THE PARTIES: VISTRA ITCL INDIA LIMITED VS SATRA PROPERTIES INDIA LIMITED

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Section 60(5) & 7 of the Insolvency and Bankruptcy Code, 2016

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________________________________________________________________

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ORDER

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IA 986/2024 (NEW IA) in C.P. (IB)/1632(MB)2019

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1) Mr. Pulkit Sharma, Ld. Counsel for the Applicant is present. None present

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for the Respondents/Contemnors, when the matter is called out.

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2) In that view of the matter, Registry is directed to issue Notice to Respondents/Contemnors viz. Darshan Developers and Pravin Viram

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Satra Partner of Darshan Developers, having addresses Krishna Bhuvan , 2^nd Floor, 67, Nehru Road, Vile Parle East, Mumbai - 400057 having Email: [email protected], clearly intimating the next

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date of hearing and shall file and place on record Compliance Report well before the adjourned date.

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3) In addition to the Notice ordered to be issued by the Court, Applicant shall issue Notice to Respondents/Contemnors viz. Darshan Developers and Pravin Viram Satra Partner of Darshan Developers, having addresses Krishna Bhuvan , 2^nd Floor, 67, Nehru Road, Vile Parle East, Mumbai - 400057 having Email: [email protected], clearly intimating the next date of hearing by all available means (i.e. Speed Post, E-mail, etc.) and shall file and place on record Affidavit of Service well before the adjourned date.

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4) Applicant is further directed to serve a copy of the present Interlocutory Application upon the Respondents, forthwith, if not served earlier.

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5) Needless to say, Respondents are directed to file and place on record Affidavits Replies, well before the adjourned date thereby duly serving copies thereof to the other side well in advance.

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6) Stand over to 02.04.2024, for further consideration and hearing. Parties shall complete the pleadings well before the adjourned date and shall be ready for arguments on the next date of hearing.

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Sd/Sd/-

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PRABHAT KUMAR JUSTICE VIRENDRASINGH BISHT MEMBER (TECHNICAL) MEMBER (JUDICIAL)

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Vedant Kedare

In the matter of Satra Properties (India) Limited [Ia 986-2024 in C.P. (IB)-1632(MB)2019]

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In the matter of Satra Properties (India) Limited [Ia 986-2024 in C.P. (IB)-1632(MB)2019]

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