Brief Facts
The present appeal arises from an order passed by the National Company Law Tribunal (NCLT), New Delhi. The dispute is regarding an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), filed by M/s Acute Daily Media Pt. Ltd. and others claiming to be the financial creditors of M/s Sharp Eye Advertising Pt. Ltd., the corporate debtor. The NCLT accepted the application and admitted the corporate debtor into the CIRP process.
Subsequently, Rockman Advertising and Marketing (India) Ltd, a majority shareholder of the corporate debtor, filed an application stating that the Section 7 application was fraudulently filed in collusion with the corporate debtors’ promoters. The Appellant…
