Anumati Consultency & Services Pvt. Ltd vs Wellside Global Pvt. Ltd

Anumati Consultancy & Services Pvt. Ltd. ....Appellant

Vs.

Wellside Global Pvt. Ltd. ....Respondent

Present: Appellant: Mr. Arvind Nayar, Sr. Advocate with Mr. Apoorv Shukla and Ms. Upasana Chandrashekaran, Advocates.

Respondent: Mr. Kumar Mihir, Advocate.

ORDER

12.03.2020: This appal has been preferred by Appellant - 'Anumati

Consultancy & Services Pvt. Ltd.' (Financial Creditor) against order dated 14th

January, 2020 passed by the Adjudicating Authority (National Company Law

Tribunal), Kolkata Bench by which the application under Section 7 has been

dismissed. There being a delay of 11 days in preferring the appeal, being

satisfied of the grounds same is condoned. I. A. No. 1088 of 2020 stands

disposed of.

2. From the record in the impugned order we find that in terms of the

agreement, the default cannot be said to have occurred as delivery of the flats

was to be given upto May, 2020. It is also not disputed that Buyer of the flats is

a Financial Creditor in terms of provisions of Section 7 of the Insolvency and

Bankruptcy Code, 2016. It is also undisputed fact that the buyer in question -2-

i.e. the Appellant is the only Buyer and as per the agreement the extended period

for delivery of the flats was upto May, 2020. In this background, if the

Adjudicating Authority has not entertained the application being pre-mature, we

are not inclined to interfere with the same. Appeal is dismissed. No costs.

.

[Justice S. J. Mukhopadhaya] Chairperson

[Justice Bansi Lal Bhat] Member (Judicial)

[Shreesha Merla] Member (Technical) am/gc

Company Appeal (AT) (Insolvency) No. 413 of 2020