This is a Company Appeal (AT) (Insolvency) No. 138 of 2017. The appeal was filed by the appellant, a Director/Shareholder, against the order dated July 13, 2017, passed by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh in CP(IB) No. 37/Chd/Pb/2017. The Adjudicating Authority admitted the application preferred by the respondent, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process. A moratorium was declared, and an Interim Resolution Professional (IRP) was invited.
Mr. Ashwini Kumar Prabhakar, the appellant, filed an appeal against the order dated July 13, 2017, passed by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh in CP(IB) No. 37/Chd/Pb/2017. The Adjudicating Authority admitted the application preferred by the respondent, Hero Steels Ltd., an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process. The appellant argued that the demand notice under sub-Section (1) of Section 8 was not issued in accordance with the law and that the demand notice/invoices were not properly filled up. The respondent submitted that Form 3 was properly filled up, showing the total amount of Rs.2,49,27,324 towards unpaid
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The Adjudicating Authority (National Company…
The appellant, Mr. Ashwini Kumar Prabhakar,…
This is a Company Appeal (AT) (Insolvency) No. 138 of 2017. The appeal was filed by the appellant, a Director/Shareholder, against the order dated July 13, 2017, passed by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh in CP(IB) No. 37/Chd/Pb/2017. The Adjudicating Authority admitted the application preferred by the respondent, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process. A moratorium was declared, and an Interim Resolution Professional (IRP) was invited.
Mr. Ashwini Kumar Prabhakar, the appellant, filed an appeal against the order dated July 13, 2017, passed by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh in CP(IB) No. 37/Chd/Pb/2017. The Adjudicating Authority admitted the application preferred by the respondent, Hero Steels Ltd., an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process. The appellant argued that the demand notice under sub-Section (1) of Section 8 was not issued in accordance with the law and that the demand notice/invoices were not properly filled up. The respondent submitted that Form 3 was properly filled up, showing the total amount of Rs.2,49,27,324 towards unpaid
…The Adjudicating Authority (National Company…
The appellant, Mr. Ashwini Kumar Prabhakar,…