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Recent Order

The National Company Law Tribunal heard the case between Srei Equipment Finance Limited and Nurit Properties Private Limited under the Insolvency & Bankruptcy Code. The tribunal closed the respondent's right to file a reply due to delays, but later allowed a recall of that order with conditions. The tribunal has reserved its orders after hearing arguments from both parties regarding the maintainability of the Company Petition.

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42 views2 pages

Recent Order

The National Company Law Tribunal heard the case between Srei Equipment Finance Limited and Nurit Properties Private Limited under the Insolvency & Bankruptcy Code. The tribunal closed the respondent's right to file a reply due to delays, but later allowed a recall of that order with conditions. The tribunal has reserved its orders after hearing arguments from both parties regarding the maintainability of the Company Petition.

Uploaded by

saumyasomu30
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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IN THE NATIONAL COMPANY LAW TRIBUNAL: NEW DELHI

COURT-IV
ITEM No. 405
IA/2229/ND/2025 IN IB/43/ND/2024

IN THE MATTER OF:


Srei Equipment Finance Limited .... Applicant
Versus
Nurit Properties Private Limited Respondent

Under Section 7 of the Insolvency & Bankruptcy Code, 2016

Order delivered on 14.05.2025


CORAM:
SHRI MANNI SANKARIAH SHANMUGA SUNDARAM
HON'BLE MEMBER (JUDICIAL)
SHRI ATUL CHATURVEDI
HON'BLE MEMBER (TECHNICAL)

HYBRID HEARING (PHYSICAL & VC)


PRESENT:
For the Applicant : Mr. Sanjiv Sen, Sr. Advocate, Mr. Arijit Mazumdar, Mr.
Shambo Nandy, Ms. Anoushka Bey, Mr. Prahalad
Balaji, Ms. Anjali Singh, Mr. Pragyan Mishra, Advocates
For the Respondent : Mr. Abhishek Anand, Advocate
ORDER

In this matter, by order dated 19.02.2024, notices were issued to the


respondents and one-week time was granted to the respondents to file reply.
Further, on 18.04.2024, Ld. Counsel for the applicant submitted that they have
served the copy of the application on 03.03.2024 to Learned Counsel for the
respondents. However, till today respondents have not filed the reply and after
hearing the Ld. Counsel for the Applicant, this Tribunal by order dated
18.04.2024 closed the right to file reply on behalf of the respondent. Thereafter,
the respondents filed IA/2254/ND/2024 to recall the order dated 18.04.2024
passed in IB/43/ND/2024 and vide order dated 08.05.2024, the same was
allowed subject to payment of cost of Rs.5000. Thereafter, the reply was filed on
behalf of the respondents was taken on record on 31.05.2024. Thereafter, the
rejoinder was filed by the Applicant. Further, both the parties put-forth their

Abhishek
arguments on 06.03.2025 and on 24.03.2025, this Tribunal permitted both the
parties to file their written submissions. Written submissions filed on behalf of
the Applicant is on board. However, the respondents not filed the written
submissions. The chance to file written submissions on behalf of the
respondents were closed accordingly. In the meantime, Ld. Counsel for the
respondents filed IA/2229/ND/2025 on 07.05.2025 for challenging the
maintainability of the titled Company Petition preferred by the Financial
Creditor.
Heard the arguments in IB/43/ND/2024 and IA/2229/ND/2025. Orders
reserved.

Sd/- Sd/-
(ATUL CHATURVEDI) (MANNI SANKARIAH SHANMUGA SUNDARAM)
MEMBER (TECHNICAL) MEMBER (JUDICIAL)

Abhishek

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