This case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating a Corporate Insolvency Resolution Process against ‘G.S. Express Private Limited’ (Corporate Debtor). The appellant, Mr. Sandeep Anand, Director of the Corporate Debtor, contended that the parties had already settled the dispute before the admission of the application, a fact allegedly ignored by the Adjudicating Authority.
Mr. Sandeep Anand, Director of G.S. Express Private Limited (the Corporate Debtor), filed an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench. The Adjudicating Authority had admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) filed by APL Apollo Tubes Ltd. (the Respondent) for initiating a Corporate Insolvency Resolution Process against the Corporate Debtor. The appellant argued that the dispute had been settled before the application was admitted, and this fact was brought to the Adjudicating Authority's notice. The Respondent's counsel also acknowledged the settlement. Despite the settlement, the Adjudicating Authority admitted the application, appointed an Interim
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The Adjudicating Authority passed an order…
Learned counsel for the Appellant submitted…
This case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating a Corporate Insolvency Resolution Process against ‘G.S. Express Private Limited’ (Corporate Debtor). The appellant, Mr. Sandeep Anand, Director of the Corporate Debtor, contended that the parties had already settled the dispute before the admission of the application, a fact allegedly ignored by the Adjudicating Authority.
Mr. Sandeep Anand, Director of G.S. Express Private Limited (the Corporate Debtor), filed an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench. The Adjudicating Authority had admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) filed by APL Apollo Tubes Ltd. (the Respondent) for initiating a Corporate Insolvency Resolution Process against the Corporate Debtor. The appellant argued that the dispute had been settled before the application was admitted, and this fact was brought to the Adjudicating Authority's notice. The Respondent's counsel also acknowledged the settlement. Despite the settlement, the Adjudicating Authority admitted the application, appointed an Interim
…The Adjudicating Authority passed an order…
Learned counsel for the Appellant submitted…