This is an appeal preferred by the Resolution Professional of M/s Cethar Limited against an order dated January 18, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Single Bench, Chennai, in Company Application No. 71/IB/2017 in Company Petition No. 511/IB/2017. The application raised an issue regarding the production of certificates on completion of a project before the Arbitral Tribunal. The Arbitral Tribunal had directed the applicant to produce the certificates in a sealed cover. The counsel for the applicant submitted that the applicant is under the Corporate Insolvency Resolution (CIR) process, and any application cannot be filed before any court in light of Section 14 read with Section 60 of the IBC, 2016.
The Resolution Professional of M/s Cethar Limited filed an appeal against the order of the Adjudicating Authority (NCLT) Chennai. The NCLT order pertained to Company Application No. 71/IB/2017 in Company Petition No. 511/IB/2017, which involved a dispute regarding the production of certificates related to project completion before the Arbitral Tribunal. The Arbitral Tribunal had directed the applicant to produce the certificates in a sealed cover. The applicant (Corporate Debtor) is undergoing the CIR process, and the Resolution Professional argued that Section 14 of the IBC, 2016, prohibits filing applications before any court. The respondent argued that the Arbitral Tribunal was aware of the financial implications related to the certificates. The Resolution
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The Adjudicating Authority (National Company Law…
The Arbitral Tribunal gave direction to the…
This is an appeal preferred by the Resolution Professional of M/s Cethar Limited against an order dated January 18, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Single Bench, Chennai, in Company Application No. 71/IB/2017 in Company Petition No. 511/IB/2017. The application raised an issue regarding the production of certificates on completion of a project before the Arbitral Tribunal. The Arbitral Tribunal had directed the applicant to produce the certificates in a sealed cover. The counsel for the applicant submitted that the applicant is under the Corporate Insolvency Resolution (CIR) process, and any application cannot be filed before any court in light of Section 14 read with Section 60 of the IBC, 2016.
The Resolution Professional of M/s Cethar Limited filed an appeal against the order of the Adjudicating Authority (NCLT) Chennai. The NCLT order pertained to Company Application No. 71/IB/2017 in Company Petition No. 511/IB/2017, which involved a dispute regarding the production of certificates related to project completion before the Arbitral Tribunal. The Arbitral Tribunal had directed the applicant to produce the certificates in a sealed cover. The applicant (Corporate Debtor) is undergoing the CIR process, and the Resolution Professional argued that Section 14 of the IBC, 2016, prohibits filing applications before any court. The respondent argued that the Arbitral Tribunal was aware of the financial implications related to the certificates. The Resolution
…The Adjudicating Authority (National Company Law…
The Arbitral Tribunal gave direction to the…