The appeal challenges an order by the Adjudicating Authority (NCLT, Chennai Bench) dated August 21, 2017, which treated a winding-up application under the Companies Act, 1956, as an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, admitted it, and appointed an Interim Resolution Professional.
The respondents, A. Prem Kumar & Another, initially filed an application under Section 433(e) & (f) of the Companies Act, 1956, before the High Court of Madras. This application sought the winding up of the company, M/s. K.K.Flats, on the grounds of its inability to pay debts. The case was subsequently transferred to the Adjudicating Authority (National Company Law Tribunal), Chennai Bench, Chennai, in accordance with "The Companies (Transfer of Pending Proceedings) Rules, 2016." The Adjudicating Authority, by an order dated August 21, 2017, treated the transferred application as one filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). Following this, the Adjudicating Authority admitted the application,
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M/s. K.K.Flats was…
Respondents issued a…
The appeal challenges an order by the Adjudicating Authority (NCLT, Chennai Bench) dated August 21, 2017, which treated a winding-up application under the Companies Act, 1956, as an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, admitted it, and appointed an Interim Resolution Professional.
The respondents, A. Prem Kumar & Another, initially filed an application under Section 433(e) & (f) of the Companies Act, 1956, before the High Court of Madras. This application sought the winding up of the company, M/s. K.K.Flats, on the grounds of its inability to pay debts. The case was subsequently transferred to the Adjudicating Authority (National Company Law Tribunal), Chennai Bench, Chennai, in accordance with "The Companies (Transfer of Pending Proceedings) Rules, 2016." The Adjudicating Authority, by an order dated August 21, 2017, treated the transferred application as one filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). Following this, the Adjudicating Authority admitted the application,
…M/s. K.K.Flats was…
Respondents issued a…