The case involves an appeal against the order of the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which dismissed an application filed by the Appellant (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating a Corporate Resolution Process against the Respondent-Gammon India Limited. The Adjudicating Authority dismissed the application because the Operational Creditor had initiated arbitration proceedings before issuing a demand notice under Section 8(2) of the IBC.
Balaji Enterprise, the Appellant (Operational Creditor), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a Corporate Resolution Process against Gammon India Limited, the Respondent. The Adjudicating Authority dismissed the application because Balaji Enterprise had initiated arbitration proceedings on 2017-01-05 by issuing a notice to Gammon India Limited for referring the dispute to arbitration under Section 21 of the Arbitration and Conciliation Act, 1996, before issuing a demand notice under Section 8(2) of the IBC. The Adjudicating Authority observed that the Corporate Debtor had neither brought to the notice of the Operational Creditor the existence of pendency of any suit or arbitration proceedings filed nor repaid the
…Sign in to view the parties.
The Operational Creditor initiated arbitration…
The Adjudicating Authority (National Company…
The case involves an appeal against the order of the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, which dismissed an application filed by the Appellant (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating a Corporate Resolution Process against the Respondent-Gammon India Limited. The Adjudicating Authority dismissed the application because the Operational Creditor had initiated arbitration proceedings before issuing a demand notice under Section 8(2) of the IBC.
Balaji Enterprise, the Appellant (Operational Creditor), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a Corporate Resolution Process against Gammon India Limited, the Respondent. The Adjudicating Authority dismissed the application because Balaji Enterprise had initiated arbitration proceedings on 2017-01-05 by issuing a notice to Gammon India Limited for referring the dispute to arbitration under Section 21 of the Arbitration and Conciliation Act, 1996, before issuing a demand notice under Section 8(2) of the IBC. The Adjudicating Authority observed that the Corporate Debtor had neither brought to the notice of the Operational Creditor the existence of pendency of any suit or arbitration proceedings filed nor repaid the
…The Operational Creditor initiated arbitration…
The Adjudicating Authority (National Company…