The appellant, Mass Metals Pvt. Ltd., challenged an order dated May 24, 2017, passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, in CP No.16/2017. The Adjudicating Authority treated a Transfer Petition under Section 434 (1)(a) as a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code), admitted the application, initiated Corporate Insolvency Resolution Process, declared a moratorium, and appointed an Interim Resolution Professional.
Mass Metals Pvt. Ltd. (Appellant) challenged an order by the Adjudicating Authority (NCLT) that initiated Corporate Insolvency Resolution Process (CIRP) based on a petition by Sunflag Iron & Steel Co. Ltd. (Respondent). The Adjudicating Authority treated a transfer petition as a Section 9 application under the Insolvency and Bankruptcy Code (IBC). A key fact is that the notice under Section 8 of the IBC was issued by an advocate/lawyer on behalf of the respondent, not directly by the operational creditor. The appellant argued that this notice was invalid. The respondent claimed a notice was issued, but the appellant contended no separate notice was issued by the Adjudicating Authority. The Adjudicating Authority order was passed on May 24, 2017. The appellant also
…Sign in to view the parties.
The Adjudicating Authority passed an order…
Counsel for the corporate debtor made…
The appellant, Mass Metals Pvt. Ltd., challenged an order dated May 24, 2017, passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, in CP No.16/2017. The Adjudicating Authority treated a Transfer Petition under Section 434 (1)(a) as a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code), admitted the application, initiated Corporate Insolvency Resolution Process, declared a moratorium, and appointed an Interim Resolution Professional.
Mass Metals Pvt. Ltd. (Appellant) challenged an order by the Adjudicating Authority (NCLT) that initiated Corporate Insolvency Resolution Process (CIRP) based on a petition by Sunflag Iron & Steel Co. Ltd. (Respondent). The Adjudicating Authority treated a transfer petition as a Section 9 application under the Insolvency and Bankruptcy Code (IBC). A key fact is that the notice under Section 8 of the IBC was issued by an advocate/lawyer on behalf of the respondent, not directly by the operational creditor. The appellant argued that this notice was invalid. The respondent claimed a notice was issued, but the appellant contended no separate notice was issued by the Adjudicating Authority. The Adjudicating Authority order was passed on May 24, 2017. The appellant also
…The Adjudicating Authority passed an order…
Counsel for the corporate debtor made…