Mr. Arun Kumar Gupta, an operational creditor, initiated corporate insolvency resolution process (CIRP) against Him Valves and Regulators Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the application on 01.10.2019 and appointed an Interim Resolution Professional (IRP). The appellant contested the admission, arguing the existence of a pre-existing dispute, as Mr. Arun Kumar Gupta had previously approached the Labour Court for the same claim. The Adjudicating Authority had rejected this objection. The respondent had also filed an application before the Labour Court against the Corporate Debtor for dues.
Mr. Arun Kumar Gupta, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Him Valves and Regulators Pvt Ltd (Corporate Debtor). The Adjudicating Authority admitted the application on 01.10.2019. Prior to this, Mr. Arun Kumar Gupta had filed an application before the Labour Court for the same claim. The respondent had also filed an application before the Labour Court against the Corporate Debtor for its dues, which was later withdrawn on 20.07.2019. A demand notice under Section 8(1) of the I&B Code was issued on 05.01.2019, followed by a notice dated 09.01.2019. The IRP/RP, Ms. Madhu Juneja, worked for 2 months and 11 days and incurred expenses of Rs.80,000/-. The IRP/RP had already
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Mr. Arun Kumar Gupta, an operational creditor, initiated corporate insolvency resolution process (CIRP) against Him Valves and Regulators Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the application on 01.10.2019 and appointed an Interim Resolution Professional (IRP). The appellant contested the admission, arguing the existence of a pre-existing dispute, as Mr. Arun Kumar Gupta had previously approached the Labour Court for the same claim. The Adjudicating Authority had rejected this objection. The respondent had also filed an application before the Labour Court against the Corporate Debtor for dues.
Mr. Arun Kumar Gupta, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Him Valves and Regulators Pvt Ltd (Corporate Debtor). The Adjudicating Authority admitted the application on 01.10.2019. Prior to this, Mr. Arun Kumar Gupta had filed an application before the Labour Court for the same claim. The respondent had also filed an application before the Labour Court against the Corporate Debtor for its dues, which was later withdrawn on 20.07.2019. A demand notice under Section 8(1) of the I&B Code was issued on 05.01.2019, followed by a notice dated 09.01.2019. The IRP/RP, Ms. Madhu Juneja, worked for 2 months and 11 days and incurred expenses of Rs.80,000/-. The IRP/RP had already
…Mr. Arun Kumar Gupta filed an application before…
Demand notice under…