The case involves an appeal against the admission of a Corporate Insolvency Resolution Process (CIRP) application under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Ambience Pvt. Ltd. The application was filed by Vistra ITCL(India) Ltd. The appeal was admitted by a Hon'ble Member (Judicial) on August 27, 2019. However, one of the Hon'ble Members (Technical), Ms. Deepa Krishan, retired on July 19, 2019. The appellant challenged the admission order, arguing that the final order could not have been passed by a single Hon'ble Member (Judicial) after the other member's retirement.
Vistra ITCL(India) Ltd. filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ambience Pvt. Ltd. The application was heard by a Divisional Bench of the National Company Law Tribunal (NCLT), comprising one Hon'ble Member (Judicial) and one Hon'ble Member (Technical). The NCLT admitted the application on August 27, 2019. However, prior to the admission order, one of the Hon'ble Members (Technical), Ms. Deepa Krishan, retired on July 19, 2019. Raj Singh Gehlot, Director of Ambience Pvt. Ltd., filed an appeal against the admission order, contending that the final order could not have been passed by a single Hon'ble Member (Judicial) after the retirement of the other
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The case involves an appeal against the admission of a Corporate Insolvency Resolution Process (CIRP) application under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Ambience Pvt. Ltd. The application was filed by Vistra ITCL(India) Ltd. The appeal was admitted by a Hon'ble Member (Judicial) on August 27, 2019. However, one of the Hon'ble Members (Technical), Ms. Deepa Krishan, retired on July 19, 2019. The appellant challenged the admission order, arguing that the final order could not have been passed by a single Hon'ble Member (Judicial) after the other member's retirement.
Vistra ITCL(India) Ltd. filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Ambience Pvt. Ltd. The application was heard by a Divisional Bench of the National Company Law Tribunal (NCLT), comprising one Hon'ble Member (Judicial) and one Hon'ble Member (Technical). The NCLT admitted the application on August 27, 2019. However, prior to the admission order, one of the Hon'ble Members (Technical), Ms. Deepa Krishan, retired on July 19, 2019. Raj Singh Gehlot, Director of Ambience Pvt. Ltd., filed an appeal against the admission order, contending that the final order could not have been passed by a single Hon'ble Member (Judicial) after the retirement of the other
…Orders pass…
Vistra to…