The petitioner, Mr. Baaskaran S., filed a writ petition before the High Court of Karnataka seeking to declare the proceedings in CP(IB) No.72/BB/2021, initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016 before the National Company Law Tribunal (NCLT), Bengaluru Bench, as not maintainable. The petitioner also sought a writ of prohibition to terminate the jurisdiction of the NCLT, Bengaluru, in respect of the said CP(IB) No.72/BB/2021. An interim prayer was made to stay all further proceedings in the matter.
Mr. Baaskaran S., Director of Tarun Realtors Private Limited, filed a writ petition challenging the maintainability of Corporate Insolvency Resolution Process (CIRP) proceedings initiated against him under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated by Ace Enviro Tech Pvt. Ltd. before the NCLT, Bengaluru Bench. Mr. Baaskaran sought a writ of prohibition to prevent the NCLT from proceeding with the CIRP. During the proceedings before the High Court, it was revealed that an appeal against the NCLT's order admitting the CIRP petition had already been filed before the NCLAT. The High Court had initially granted an interim stay on the NCLT proceedings. The key fact is the filing of an appeal before NCLAT, which rendered the writ petition
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Proceedings in CP(IB) No.72/BB/2021 initiated…
NCLT passed an order…
The petitioner, Mr. Baaskaran S., filed a writ petition before the High Court of Karnataka seeking to declare the proceedings in CP(IB) No.72/BB/2021, initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016 before the National Company Law Tribunal (NCLT), Bengaluru Bench, as not maintainable. The petitioner also sought a writ of prohibition to terminate the jurisdiction of the NCLT, Bengaluru, in respect of the said CP(IB) No.72/BB/2021. An interim prayer was made to stay all further proceedings in the matter.
Mr. Baaskaran S., Director of Tarun Realtors Private Limited, filed a writ petition challenging the maintainability of Corporate Insolvency Resolution Process (CIRP) proceedings initiated against him under Section 9 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated by Ace Enviro Tech Pvt. Ltd. before the NCLT, Bengaluru Bench. Mr. Baaskaran sought a writ of prohibition to prevent the NCLT from proceeding with the CIRP. During the proceedings before the High Court, it was revealed that an appeal against the NCLT's order admitting the CIRP petition had already been filed before the NCLAT. The High Court had initially granted an interim stay on the NCLT proceedings. The key fact is the filing of an appeal before NCLAT, which rendered the writ petition
…Proceedings in CP(IB) No.72/BB/2021 initiated…
NCLT passed an order…