NCLAT dismisses NCLT order, directs Ansal Housing to pay money to creditor

Appellate tribunal NCLAT has set aside an NCLT order that rejected an operational creditor's plea seeking insolvency proceedings against Ansal Housing, terming it as a "fit case for the admission of CIRP". A two-member National Company Law Appellate Tribunal (NCLAT) bench said realty firm Ansal Housing has an operational debt due and payable, and dismissal of the Section 9 petition by the NCLT is "perverse and illegal and liable" to be set aside. Moreover, it has also directed Ansal Housing to pay Rs 12.72 lakh to Clicbrics Technologies within a month of the passing of this order. "The above payment shall be released within 30 days from the date of uploading of this order failing which the Corporate Debtor would come under the rigours of CIRP (corporate insolvency resolution process) on the expiry of said 30 days period," said an NCLAT order passed on April 5. It also added that in case, the operational creditor refuses to accept the above sum as payment towards operational debt,

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