TaxTMI 
TaxTMI 
2020 (7) TMI 768
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....bsp;Kanthi Narahari, JJ. For Appellants: Mr. Srijan Sinha, Advocate ORDER Kanthi Narahari, J. Appellants claiming to be Financial Creditors on the basis of having been Lenders of the Corporate Debtor, are aggrieved of the impugned order dated 28th February, 2020 passed by the Adjudicating Authority (National Company Law Tribunal), Bengaluru Bench by virtue whereof the Adjudicating Authority d....
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....rs, inter alia, being the Allottees and the Investors, the Company Petition came to be disposed of on the basis of Joint Consent Terms dated 12th February, 2020 filed by the parties to the Company Petition. Having regard to the Consent Terms, the Adjudicating Authority observed that claims of 140 Investors have been fully settled by the Corporate Debtor and an amount of Rs. 27.25 Crore has been pa....
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....t is manifestly clear that the application under Section 7 of the I&B Code came to be disposed of at the pre-admission stage and no order of admission or rejection of application was passed by the Adjudicating Authority keeping in view the nature of claims which admittedly were relatable to a Housing Project. The Adjudicating Authority appears to have been influenced by the fact that claims of the....
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....l would not be the appropriate course. 5. It is a fact that the given time frame has already elapsed but we take judicial notice of the fact that normal business operations had been adversely affected by the imposition of lockdown due to outbreak of COVID-19 which has been declared pandemic. Even after unlocking, the pace of business operations is far from normal. In these circumstances, some con....