The case involves an appeal against the disposal of an application by a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (I&B Code). The Adjudicating Authority (National Company Law Tribunal) dismissed the application for triggering the Corporate Insolvency Resolution Process against the Corporate Debtor because the application was not in consonance with the provisions of the I&B Code and the prescribed form. The appellant sought condonation of delay in filing the appeal.
R. Mangalam, claiming to be a Financial Creditor, filed an application to trigger the Corporate Insolvency Resolution Process against SPML Infra Ltd. The Adjudicating Authority (National Company Law Tribunal) dismissed the application because it was not in the prescribed format and not in consonance with the provisions of the Insolvency and Bankruptcy Code, 2016. The appellant sought condonation of delay of 13 days in filing the appeal. The appellant had not filed the application under Section 7 of the I&B Code in the prescribed format (Form-1) under Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The appellant filed the application in an ordinary form. The Adjudicating Authority's order was dated 2018-07-09.
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The Adjudicating Authority (National Company Law…
The Appellate Tribunal disposed of the appeal,…
The case involves an appeal against the disposal of an application by a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (I&B Code). The Adjudicating Authority (National Company Law Tribunal) dismissed the application for triggering the Corporate Insolvency Resolution Process against the Corporate Debtor because the application was not in consonance with the provisions of the I&B Code and the prescribed form. The appellant sought condonation of delay in filing the appeal.
R. Mangalam, claiming to be a Financial Creditor, filed an application to trigger the Corporate Insolvency Resolution Process against SPML Infra Ltd. The Adjudicating Authority (National Company Law Tribunal) dismissed the application because it was not in the prescribed format and not in consonance with the provisions of the Insolvency and Bankruptcy Code, 2016. The appellant sought condonation of delay of 13 days in filing the appeal. The appellant had not filed the application under Section 7 of the I&B Code in the prescribed format (Form-1) under Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The appellant filed the application in an ordinary form. The Adjudicating Authority's order was dated 2018-07-09.
The Adjudicating Authority (National Company Law…
The Appellate Tribunal disposed of the appeal,…