Avasarala Technologies filed a writ petition in the High Court of Karnataka against the Registrar of the National Company Law Tribunal (NCLT), Bangalore Bench, Thyssenkrupp Automation Engineering GMBH, and Mr. Ravi Sankar Devarakonda, the Interim Resolution Professional. The petition challenges the maintainability of proceedings before the NCLT, citing Section 10A of the Insolvency and Bankruptcy Code (IBC).
Avasarala Technologies filed a writ petition challenging the maintainability of proceedings before the NCLT. The Registrar of the NCLT, Thyssenkrupp Automation Engineering GMBH, and the Interim Resolution Professional, Mr. Ravi Sankar Devarakonda, are the respondents. The petitioner relies on Section 10A of the IBC, which suspends the initiation of corporate insolvency resolution processes for defaults arising on or after March 25, 2020. The respondents argue that the writ petition is maintainable based on the Innoventive Industries Limited vs. ICICI Bank case. The demand notice is dated 19.11.2020. The court notes that the Innoventive Industries case does not reference Section 10A of the IBC. The court also notes that Section 10A is a transitional provision to address
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Avasarala Technologies filed a writ petition in the High Court of Karnataka against the Registrar of the National Company Law Tribunal (NCLT), Bangalore Bench, Thyssenkrupp Automation Engineering GMBH, and Mr. Ravi Sankar Devarakonda, the Interim Resolution Professional. The petition challenges the maintainability of proceedings before the NCLT, citing Section 10A of the Insolvency and Bankruptcy Code (IBC).
Avasarala Technologies filed a writ petition challenging the maintainability of proceedings before the NCLT. The Registrar of the NCLT, Thyssenkrupp Automation Engineering GMBH, and the Interim Resolution Professional, Mr. Ravi Sankar Devarakonda, are the respondents. The petitioner relies on Section 10A of the IBC, which suspends the initiation of corporate insolvency resolution processes for defaults arising on or after March 25, 2020. The respondents argue that the writ petition is maintainable based on the Innoventive Industries Limited vs. ICICI Bank case. The demand notice is dated 19.11.2020. The court notes that the Innoventive Industries case does not reference Section 10A of the IBC. The court also notes that Section 10A is a transitional provision to address
…Section 10A of the IBC suspends the…
The demand not…
Sign in to view related legal provisions.