The case involves an application under the Insolvency and Bankruptcy Code (IBC). The applicant's counsel submitted that NCLT-Court1 had admitted IBA/1121/2019 vide order dated 05.05.2020 and recommended for commencement of CIR Proceedings of the Corporate Debtor.
Shree Aagarsen Steel Industries Pvt Ltd filed an application (IBA/1049/2019) against Chowel India Pvt Ltd. The counsel for the applicant submitted that NCLT-Court1 had already admitted another application (IBA/1121/2019) and recommended for commencement of CIR Proceedings of the Corporate Debtor. The order for the other application was dated 05.05.2020. Because of this, the current application was considered infructuous.
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NCLT-Court1 admitted IBA/1121/2019 and…
Hearing of Chennai Bench, Chennai National…
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The case involves an application under the Insolvency and Bankruptcy Code (IBC). The applicant's counsel submitted that NCLT-Court1 had admitted IBA/1121/2019 vide order dated 05.05.2020 and recommended for commencement of CIR Proceedings of the Corporate Debtor.
Shree Aagarsen Steel Industries Pvt Ltd filed an application (IBA/1049/2019) against Chowel India Pvt Ltd. The counsel for the applicant submitted that NCLT-Court1 had already admitted another application (IBA/1121/2019) and recommended for commencement of CIR Proceedings of the Corporate Debtor. The order for the other application was dated 05.05.2020. Because of this, the current application was considered infructuous.
NCLT-Court1 admitted IBA/1121/2019 and…
Hearing of Chennai Bench, Chennai National…
Sign in to view related legal provisions.