The appeal arises from an order dated July 11, 2019, passed by the Adjudicating Authority, National Company Law Tribunal, Ahmedabad Bench, in I.A. No. 399 of 2019 in/with CP(IB) No. 388/NCLT/AHM/2018. The appellant initially filed a company petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) in 2017. Subsequently, the first respondent filed a similar petition against the same corporate debtor, which was admitted on May 31, 2019, initiating the Corporate Insolvency Resolution Process (CIRP). The appellant's initial petition was then disposed of as infructuous. The first respondent later sought to withdraw their petition, which was allowed by the Adjudicating Authority. The appellant challenges this withdrawal, arguing that their claim was not considered
…Mr. Sandip Patel (Appellant) initially filed a Company Petition (IB) No. 157 of 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Cure Life Care Pvt. Ltd (Corporate Debtor). Central Bank of India (Respondent No. 1) also filed Company Petition No. CP(IB) No. 388/NCLT/AHM/2018 under Section 7 of IBC against the same Corporate Debtor. The petition filed by Central Bank of India was admitted on 31.05.2019, and a moratorium was declared under Section 14(1) of IBC. Consequently, the Appellant's petition was disposed of as infructuous on 04.06.2019, with liberty granted to the Appellant to file a claim before the Resolution Professional. Central Bank of India, being the Financial Creditor and Sole Member of the Committee of Creditors (CoC),
…Sign in to view the parties.
Mr. Sandip Patel files…
Central Bank of India files Company Petition…
The appeal arises from an order dated July 11, 2019, passed by the Adjudicating Authority, National Company Law Tribunal, Ahmedabad Bench, in I.A. No. 399 of 2019 in/with CP(IB) No. 388/NCLT/AHM/2018. The appellant initially filed a company petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) in 2017. Subsequently, the first respondent filed a similar petition against the same corporate debtor, which was admitted on May 31, 2019, initiating the Corporate Insolvency Resolution Process (CIRP). The appellant's initial petition was then disposed of as infructuous. The first respondent later sought to withdraw their petition, which was allowed by the Adjudicating Authority. The appellant challenges this withdrawal, arguing that their claim was not considered
…Mr. Sandip Patel (Appellant) initially filed a Company Petition (IB) No. 157 of 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Cure Life Care Pvt. Ltd (Corporate Debtor). Central Bank of India (Respondent No. 1) also filed Company Petition No. CP(IB) No. 388/NCLT/AHM/2018 under Section 7 of IBC against the same Corporate Debtor. The petition filed by Central Bank of India was admitted on 31.05.2019, and a moratorium was declared under Section 14(1) of IBC. Consequently, the Appellant's petition was disposed of as infructuous on 04.06.2019, with liberty granted to the Appellant to file a claim before the Resolution Professional. Central Bank of India, being the Financial Creditor and Sole Member of the Committee of Creditors (CoC),
…Mr. Sandip Patel files…
Central Bank of India files Company Petition…