The appellant, M/s. Lease Pal India Pvt. Ltd. (Operational Creditor), filed an application under Section 433(e) of the Companies Act, 1956 before the Hon'ble High Court of Delhi. This application was later transferred to the NCLAT pursuant to Rule 5 of “The Companies (Transfer of Pending Proceedings) Rules, 2016”. Upon transfer, the appellant requested that the petition be treated as an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). The Adjudicating Authority rejected the application due to non-compliance with Rule 5 and the absence of requisite information, as per the impugned order dated 17th October, 2017.
M/s. Lease Pal India Pvt. Ltd., an operational creditor, initially filed an application under Section 433(e) of the Companies Act, 1956, with the Delhi High Court, seeking the winding up of ACPL HR Services Pvt. Ltd. This application was transferred to the NCLAT under the Companies (Transfer of Pending Proceedings) Rules, 2016. After the transfer, the operational creditor requested that the petition be treated as an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority rejected this application because it was not in order and lacked the requisite information under Rule 5. The appellant had issued a statutory notice under Sections 433(e), 434(1)(A), and 439 of the Companies Act, 1956, for an outstanding amount of
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The appellant filed an application under Section…
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The appellant, M/s. Lease Pal India Pvt. Ltd. (Operational Creditor), filed an application under Section 433(e) of the Companies Act, 1956 before the Hon'ble High Court of Delhi. This application was later transferred to the NCLAT pursuant to Rule 5 of “The Companies (Transfer of Pending Proceedings) Rules, 2016”. Upon transfer, the appellant requested that the petition be treated as an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). The Adjudicating Authority rejected the application due to non-compliance with Rule 5 and the absence of requisite information, as per the impugned order dated 17th October, 2017.
M/s. Lease Pal India Pvt. Ltd., an operational creditor, initially filed an application under Section 433(e) of the Companies Act, 1956, with the Delhi High Court, seeking the winding up of ACPL HR Services Pvt. Ltd. This application was transferred to the NCLAT under the Companies (Transfer of Pending Proceedings) Rules, 2016. After the transfer, the operational creditor requested that the petition be treated as an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority rejected this application because it was not in order and lacked the requisite information under Rule 5. The appellant had issued a statutory notice under Sections 433(e), 434(1)(A), and 439 of the Companies Act, 1956, for an outstanding amount of
…The appellant filed an application under Section…
Central Government…