Authority: National Company Law Tribunal, New Delhi (Court VI)
Order Date: 08 June 2025
Case Overview
The National Company Law Tribunal (NCLT), New Delhi, admitted an application filed under Section 7 of the Insolvency & Bankruptcy Code, 2016. The application was filed by Mr. Ravinder Aggarwal and Others (Applicants) against M/s. MSA Developers Pvt. Ltd. (Respondent). The matter was heard in a hybrid mode (physical and video conference) by a bench comprising Justice Jyotsna Sharma (Member Judicial) and Ms. Anu Jagmohan Singh (Member Technical). The applicant was represented by Advocate Rahul Gupta. The tribunal issued specific procedural directions regarding service of notice and filing of replies.
Final Outcome
The NCLT admitted the insolvency application and issued notice to Respondent No. 3. The Applicant was directed to take steps for service of notice along with a copy of the application upon Respondent No. 3 through all prescribed modes and to file an affidavit of service at least one week before the next hearing date. The Respondents were directed to file their reply within two weeks of service of notice. The matter was listed for the next hearing on 07 July 2026.
Topics: Insolvency Proceeding, Real Estate, NCLT