The petitioner, Sree Metaliks Limited, challenged the vires of Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and related rules. The challenge was based on the argument that the Code does not provide an opportunity for a corporate debtor to be heard in a petition filed under Section 7. The petitioner claimed they received a notice from a firm of Company Secretaries about an application under Section 7 but were not informed of the hearing date. The NCLT registered the application as Company Petition No. 16 of 2017 and passed an ex parte order on January 30, 2017, after a hearing on January 25, 2017, without informing the petitioner of the hearing date. The petitioner appealed, and the appeal was disposed of. The petitioner argued they were not heard by the
…Sree Metaliks Limited (the petitioner) challenged the constitutional validity (vires) of Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and related rules. The petitioner received a notice from a firm of Company Secretaries regarding an application filed under Section 7 of the IBC, but the notice did not specify the date of the hearing. The National Company Law Tribunal (NCLT), Kolkata Bench, registered the application as Company Petition No. 16 of 2017. The NCLT passed an ex parte order on January 30, 2017, after a hearing on January 25, 2017, without informing the petitioner of the hearing date. The petitioner appealed to the National Company Law Appellate Tribunal (NCLAT), but did not press the point of breach of natural justice in that appeal. The
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The first petitioner received a notice from a…
A hearing was conducted…
The petitioner, Sree Metaliks Limited, challenged the vires of Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and related rules. The challenge was based on the argument that the Code does not provide an opportunity for a corporate debtor to be heard in a petition filed under Section 7. The petitioner claimed they received a notice from a firm of Company Secretaries about an application under Section 7 but were not informed of the hearing date. The NCLT registered the application as Company Petition No. 16 of 2017 and passed an ex parte order on January 30, 2017, after a hearing on January 25, 2017, without informing the petitioner of the hearing date. The petitioner appealed, and the appeal was disposed of. The petitioner argued they were not heard by the
…Sree Metaliks Limited (the petitioner) challenged the constitutional validity (vires) of Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and related rules. The petitioner received a notice from a firm of Company Secretaries regarding an application filed under Section 7 of the IBC, but the notice did not specify the date of the hearing. The National Company Law Tribunal (NCLT), Kolkata Bench, registered the application as Company Petition No. 16 of 2017. The NCLT passed an ex parte order on January 30, 2017, after a hearing on January 25, 2017, without informing the petitioner of the hearing date. The petitioner appealed to the National Company Law Appellate Tribunal (NCLAT), but did not press the point of breach of natural justice in that appeal. The
…The first petitioner received a notice from a…
A hearing was conducted…