This is an appeal filed by the Resolution Professional of ‘AMW Auto Components Ltd.' against the order dated 18th December, 2020 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, Court-2. The order allowed the application of Respondent- ‘Shah Coal Pvt. Ltd.' under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 to include its claim in the category of ‘Financial Creditor'. The appeal assails the decision on the ground that the claim related to the supply of goods and fell within the purview of the 'operational debt', and thus, could not be classified under the category of 'financial debt'.
The Resolution Professional of ‘AMW Auto Components Ltd.' filed an appeal against the order dated 18th December, 2020 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, Court-2. The Adjudicating Authority allowed the application of ‘Shah Coal Pvt. Ltd.' to include its claim in the category of ‘Financial Creditor'. The Resolution Professional argued that the claim related to the supply of goods and should be classified as 'operational debt' instead of 'financial debt'. The Resolution Professional is part of the Corporate Insolvency Resolution Process mechanism and is supposed to collate the claims. The Resolution Professional sought to withdraw the appeal.
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The Adjudicating Authority (National Company…
The court dismissed the appeal as withdrawn…
This is an appeal filed by the Resolution Professional of ‘AMW Auto Components Ltd.' against the order dated 18th December, 2020 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, Court-2. The order allowed the application of Respondent- ‘Shah Coal Pvt. Ltd.' under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 to include its claim in the category of ‘Financial Creditor'. The appeal assails the decision on the ground that the claim related to the supply of goods and fell within the purview of the 'operational debt', and thus, could not be classified under the category of 'financial debt'.
The Resolution Professional of ‘AMW Auto Components Ltd.' filed an appeal against the order dated 18th December, 2020 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, Court-2. The Adjudicating Authority allowed the application of ‘Shah Coal Pvt. Ltd.' to include its claim in the category of ‘Financial Creditor'. The Resolution Professional argued that the claim related to the supply of goods and should be classified as 'operational debt' instead of 'financial debt'. The Resolution Professional is part of the Corporate Insolvency Resolution Process mechanism and is supposed to collate the claims. The Resolution Professional sought to withdraw the appeal.
The Adjudicating Authority (National Company…
The court dismissed the appeal as withdrawn…