The case involves an appeal preferred by Vasan Healthcare Pvt. Ltd., the Appellant/Corporate Debtor, under Section 61 of the Insolvency & Bankruptcy Code, 2016, against an order dated April 21, 2017, passed by the National Company Law Tribunal, Chennai Bench. The NCLT order admitted an application by the Respondent, M/s. Alcon Laboratories (India) Pvt. Ltd., an Operational Creditor, for initiating a corporate insolvency resolution process under Section 9 of the I&B Code. The NCLT also passed an order of moratorium and stayed all pending proceedings before all courts. The Appellant brought to the notice of the Appellate Tribunal that a winding up petition was pending before the Hon'ble Madras High Court. The Madras High Court had stayed the operation of
…Vasan Healthcare Pvt. Ltd. (Appellant/Corporate Debtor) filed an appeal against the order of the National Company Law Tribunal (NCLT), Chennai, which admitted an application by Alcon Laboratories (India) Pvt. Ltd. (Respondent/Operational Creditor) for initiating corporate insolvency resolution process under Section 9 of the Insolvency & Bankruptcy Code (I&B Code). The NCLT also declared a moratorium and stayed all pending proceedings. The Appellant informed the Appellate Tribunal that a winding up petition was pending before the Madras High Court. The Madras High Court had stayed the operation of the insolvency proceedings initiated by the Adjudicating Authority. The Appellant sought to withdraw the appeal before the Appellate Tribunal.
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National Company Law Tribunal, Chennai Bench…
Appellant brought to the notice of the…
The case involves an appeal preferred by Vasan Healthcare Pvt. Ltd., the Appellant/Corporate Debtor, under Section 61 of the Insolvency & Bankruptcy Code, 2016, against an order dated April 21, 2017, passed by the National Company Law Tribunal, Chennai Bench. The NCLT order admitted an application by the Respondent, M/s. Alcon Laboratories (India) Pvt. Ltd., an Operational Creditor, for initiating a corporate insolvency resolution process under Section 9 of the I&B Code. The NCLT also passed an order of moratorium and stayed all pending proceedings before all courts. The Appellant brought to the notice of the Appellate Tribunal that a winding up petition was pending before the Hon'ble Madras High Court. The Madras High Court had stayed the operation of
…Vasan Healthcare Pvt. Ltd. (Appellant/Corporate Debtor) filed an appeal against the order of the National Company Law Tribunal (NCLT), Chennai, which admitted an application by Alcon Laboratories (India) Pvt. Ltd. (Respondent/Operational Creditor) for initiating corporate insolvency resolution process under Section 9 of the Insolvency & Bankruptcy Code (I&B Code). The NCLT also declared a moratorium and stayed all pending proceedings. The Appellant informed the Appellate Tribunal that a winding up petition was pending before the Madras High Court. The Madras High Court had stayed the operation of the insolvency proceedings initiated by the Adjudicating Authority. The Appellant sought to withdraw the appeal before the Appellate Tribunal.
National Company Law Tribunal, Chennai Bench…
Appellant brought to the notice of the…