The case involves an appeal against an Impugned Order dated 24th January 2020, passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench). The application under Section 9 of the Insolvency and Bankruptcy Code was filed by the Appellant, Patel Integrated Logistics Ltd., as an Operational Creditor. The initial petition, IB-943/2019, filed on the same cause of action, was withdrawn on 22nd July 2019, with the specific submission that all claims had been settled in full satisfaction. Despite this, another petition, (IB)-314(ND)2020, was filed, leading to the Impugned Order.
Patel Integrated Logistics Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code as an Operational Creditor against Overnite Express Ltd. An earlier petition, IB-943/2019, based on the same cause of action, was withdrawn on 22nd July 2019, with the specific submission that all claims had been settled in full satisfaction. Despite the withdrawal of the initial petition, Patel Integrated Logistics Ltd. filed another petition, (IB)-314(ND)2020. The Adjudicating Authority dismissed the second petition as not maintainable. Overnite Express Ltd. is already undergoing Corporate Insolvency Resolution Process (CIRP) initiated by a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code. The Appellant claims that no amount was received
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Petition IB-943/2019 was withdrawn with the…
The Adjudicating Authority passed the…
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The case involves an appeal against an Impugned Order dated 24th January 2020, passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench). The application under Section 9 of the Insolvency and Bankruptcy Code was filed by the Appellant, Patel Integrated Logistics Ltd., as an Operational Creditor. The initial petition, IB-943/2019, filed on the same cause of action, was withdrawn on 22nd July 2019, with the specific submission that all claims had been settled in full satisfaction. Despite this, another petition, (IB)-314(ND)2020, was filed, leading to the Impugned Order.
Patel Integrated Logistics Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code as an Operational Creditor against Overnite Express Ltd. An earlier petition, IB-943/2019, based on the same cause of action, was withdrawn on 22nd July 2019, with the specific submission that all claims had been settled in full satisfaction. Despite the withdrawal of the initial petition, Patel Integrated Logistics Ltd. filed another petition, (IB)-314(ND)2020. The Adjudicating Authority dismissed the second petition as not maintainable. Overnite Express Ltd. is already undergoing Corporate Insolvency Resolution Process (CIRP) initiated by a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code. The Appellant claims that no amount was received
…Petition IB-943/2019 was withdrawn with the…
The Adjudicating Authority passed the…
Sign in to view related legal provisions.