M/s. Consolidated Construction Consortium Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against M/s. Hitro Energy Solutions Private Limited. The Adjudicating Authority (National Company Law Tribunal), Chennai, admitted the application via an order dated December 6, 2018. Mr. N.S. Rangachari, a shareholder of M/s. Hitro Energy Solutions Private Limited, appealed this decision.
Consolidated Construction Consortium Limited, identified as the Operational Creditor, initiated proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC) against Hitro Energy Solutions Private Limited. The Adjudicating Authority admitted the application on December 6, 2018. N.S. Rangachari, a shareholder of Hitro Energy Solutions Private Limited, filed an appeal against this order. The appellant argued that the Section 9 application was not maintainable because Hitro Energy Solutions Private Limited was not the 'Corporate Debtor' of the Operational Creditor. Purchase orders were issued by Consolidated Construction Consortium Limited for the supply of materials to Hitro Energy Solutions, a separate entity. The appellant also contended that neither goods
…Sign in to view the parties.
The Adjudicating Authority (National Company…
Mr. N.S. Rangachari, Shareholder of ‘M/s.…
M/s. Consolidated Construction Consortium Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against M/s. Hitro Energy Solutions Private Limited. The Adjudicating Authority (National Company Law Tribunal), Chennai, admitted the application via an order dated December 6, 2018. Mr. N.S. Rangachari, a shareholder of M/s. Hitro Energy Solutions Private Limited, appealed this decision.
Consolidated Construction Consortium Limited, identified as the Operational Creditor, initiated proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC) against Hitro Energy Solutions Private Limited. The Adjudicating Authority admitted the application on December 6, 2018. N.S. Rangachari, a shareholder of Hitro Energy Solutions Private Limited, filed an appeal against this order. The appellant argued that the Section 9 application was not maintainable because Hitro Energy Solutions Private Limited was not the 'Corporate Debtor' of the Operational Creditor. Purchase orders were issued by Consolidated Construction Consortium Limited for the supply of materials to Hitro Energy Solutions, a separate entity. The appellant also contended that neither goods
…The Adjudicating Authority (National Company…
Mr. N.S. Rangachari, Shareholder of ‘M/s.…