The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, which dismissed an application filed by the Appellant, an 'Operation Creditor', under Section 9 of the Insolvency & Bankruptcy Code 2016 ('I&B Code'). The Adjudicating Authority noted that the actual claim of the Appellant was against 'Isolux Corsan India- C&C “JV” and not against the Respondent, which is a joint venture firm. The application was dismissed because the firm was not a party in the application under Section 9 of the 'I&B Code'.
M/s Aggcon International Equipments Pvt. Ltd., the Appellant and an 'Operation Creditor', filed an application under Section 9 of the Insolvency & Bankruptcy Code 2016 ('I&B Code') for initiating Corporate Insolvency Resolution Process against Isolux Corsan India Engineering and Construction Pvt. Ltd., the Respondent. The Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, dismissed the application, observing that the Appellant's claim was against 'Isolux Corsan India- C&C “JV”', a joint venture firm, and not against the Respondent directly. The joint venture firm was not a party to the application. The Appellant's counsel accepted that 'Isolux Corsan India-C&C‘JV’, District Kaimur, Bhar is not a company incorporated under the
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The Appellant, an 'Operation Creditor', filed…
The Adjudicating Authority (National Company…
The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, which dismissed an application filed by the Appellant, an 'Operation Creditor', under Section 9 of the Insolvency & Bankruptcy Code 2016 ('I&B Code'). The Adjudicating Authority noted that the actual claim of the Appellant was against 'Isolux Corsan India- C&C “JV” and not against the Respondent, which is a joint venture firm. The application was dismissed because the firm was not a party in the application under Section 9 of the 'I&B Code'.
M/s Aggcon International Equipments Pvt. Ltd., the Appellant and an 'Operation Creditor', filed an application under Section 9 of the Insolvency & Bankruptcy Code 2016 ('I&B Code') for initiating Corporate Insolvency Resolution Process against Isolux Corsan India Engineering and Construction Pvt. Ltd., the Respondent. The Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, dismissed the application, observing that the Appellant's claim was against 'Isolux Corsan India- C&C “JV”', a joint venture firm, and not against the Respondent directly. The joint venture firm was not a party to the application. The Appellant's counsel accepted that 'Isolux Corsan India-C&C‘JV’, District Kaimur, Bhar is not a company incorporated under the
…The Appellant, an 'Operation Creditor', filed…
The Adjudicating Authority (National Company…