Munaf Virjee News Today

The bankruptcy court in Mumbai has rejected an application filed by Dezire Group against Indamer Mjets Airport Service Pvt Ltd to admit the company under the Corporate Insolvency Resolution Process (CIRP). The application was dismissed as the court found that Indamer Mjets Airport Service demonstrated the existence of a dispute related to the delay in executing the contract and the quality of work done by the operational creditor.

Nclat: In June, the bankruptcy courts Mumbai bench had accepted a petition from Bank of India to admit the company under corporate insolvency resolution process (CIRP). The bank had claimed dues worth ₹111.61 crore from the company.

The National Company Law Appellate Tribunal (NCLAT) has quashed insolvency resolution proceedings against BD&P Hotels (India), a group entity of listed real estate developer DB Realty, while setting aside an earlier order of the National Company Law Tribunal (NCLT).