The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The appeal's maintainability is questioned at the instance of the 'Corporate Debtor' due to a prior decision by the Supreme Court in Innoventive Industries Ltd. V/s ICICI Bank. The appellant's counsel requests permission to file an application for substitution of the appellant.
The appellant, A to Z Barter Pvt. Ltd., filed an appeal. The maintainability of the appeal is challenged because the appeal was filed at the instance of the 'Corporate Debtor'. The Hon'ble Supreme Court's decision in Innoventive Industries Ltd. V/s ICICI Bank 2018 (1) SCC 407 (Para- 11) is relevant to the maintainability of the appeal. The appellant's counsel requested permission to file an application for substitution of the appellant by an aggrieved person, such as a Director/Shareholder. The court allowed the appellant's counsel to file the substitution application within a week and transpose the Appellant as 3rd Respondent. The case was then posted for orders on January 17, 2020, along with the substitution petition.
Sign in to view the parties.
Court finds the appeal's maintainability…
Appeal posted for…
Sign in to view related legal provisions.
The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT). The appeal's maintainability is questioned at the instance of the 'Corporate Debtor' due to a prior decision by the Supreme Court in Innoventive Industries Ltd. V/s ICICI Bank. The appellant's counsel requests permission to file an application for substitution of the appellant.
The appellant, A to Z Barter Pvt. Ltd., filed an appeal. The maintainability of the appeal is challenged because the appeal was filed at the instance of the 'Corporate Debtor'. The Hon'ble Supreme Court's decision in Innoventive Industries Ltd. V/s ICICI Bank 2018 (1) SCC 407 (Para- 11) is relevant to the maintainability of the appeal. The appellant's counsel requested permission to file an application for substitution of the appellant by an aggrieved person, such as a Director/Shareholder. The court allowed the appellant's counsel to file the substitution application within a week and transpose the Appellant as 3rd Respondent. The case was then posted for orders on January 17, 2020, along with the substitution petition.
Court finds the appeal's maintainability…
Appeal posted for…
Sign in to view related legal provisions.