The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) for initiating Corporate Insolvency Resolution Process (CIRP) against Medilux Laboratories Pvt. Ltd. The application was filed by Mr. Sunil Parmanand Kewalramani (1st Respondent) and other respondents claiming to be financial creditors. The Adjudicating Authority admitted the application, declared a moratorium, and appointed an Interim Resolution Professional (IRP). The appellant, Sanjay Kewalramani, challenged this order.
Mr. Sunil Parmanand Kewalramani (1st Respondent) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Medilux Laboratories Pvt. Ltd. ('Corporate Debtor'). The Adjudicating Authority admitted the application, declared a moratorium, and appointed an Interim Resolution Professional. Respondents 1st to 3rd claimed to be 'Financial Creditors'. The Adjudicating Authority held that the application at the instance of the 1st Respondent was not maintainable but that the application at the instance of the 2nd and 3rd Respondents was maintainable. The 1st Respondent's application was signed by Mr. Sunil Parmanand Kewalramani. The 2nd and 3rd Respondents were not party to the
…Sign in to view the parties.
The Adjudicating Authority passed an order…
The appellate tribunal set aside the order…
The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, which admitted an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) for initiating Corporate Insolvency Resolution Process (CIRP) against Medilux Laboratories Pvt. Ltd. The application was filed by Mr. Sunil Parmanand Kewalramani (1st Respondent) and other respondents claiming to be financial creditors. The Adjudicating Authority admitted the application, declared a moratorium, and appointed an Interim Resolution Professional (IRP). The appellant, Sanjay Kewalramani, challenged this order.
Mr. Sunil Parmanand Kewalramani (1st Respondent) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Medilux Laboratories Pvt. Ltd. ('Corporate Debtor'). The Adjudicating Authority admitted the application, declared a moratorium, and appointed an Interim Resolution Professional. Respondents 1st to 3rd claimed to be 'Financial Creditors'. The Adjudicating Authority held that the application at the instance of the 1st Respondent was not maintainable but that the application at the instance of the 2nd and 3rd Respondents was maintainable. The 1st Respondent's application was signed by Mr. Sunil Parmanand Kewalramani. The 2nd and 3rd Respondents were not party to the
…The Adjudicating Authority passed an order…
The appellate tribunal set aside the order…