The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Hon'ble High Court had already passed an order of liquidation against the Respondent Company, Essar Offshore Subsea Limited (formerly known as EPC Offshore Subsea Projects Ltd), under the provisions of the Companies Act, 1956. An official liquidator of the Hon'ble High Court was appointed with powers under Section 457 of the Companies Act, 1956, to take charge of the assets, business affairs, properties, bank accounts, books of accounts, and documents of the Respondent Company.
Ale Middle East LLC filed a petition against EPC Offshore Subsea Projects Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. Prior to this petition, the Hon'ble High Court had already passed an order of liquidation against EPC Offshore Subsea Projects Ltd (now known as Essar Offshore Subsea Limited) in CP 347/2016. The High Court's order included the appointment of an official liquidator with powers under Section 457 of the Companies Act, 1956, to manage the company's assets and affairs. The key fact is the prior liquidation order by the High Court, which directly impacts the maintainability of the Section 9 petition before the NCLT.
Sign in to view the parties.
Hon'ble High Court passed an order of…
Hearing of Mumbai Bench…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Hon'ble High Court had already passed an order of liquidation against the Respondent Company, Essar Offshore Subsea Limited (formerly known as EPC Offshore Subsea Projects Ltd), under the provisions of the Companies Act, 1956. An official liquidator of the Hon'ble High Court was appointed with powers under Section 457 of the Companies Act, 1956, to take charge of the assets, business affairs, properties, bank accounts, books of accounts, and documents of the Respondent Company.
Ale Middle East LLC filed a petition against EPC Offshore Subsea Projects Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. Prior to this petition, the Hon'ble High Court had already passed an order of liquidation against EPC Offshore Subsea Projects Ltd (now known as Essar Offshore Subsea Limited) in CP 347/2016. The High Court's order included the appointment of an official liquidator with powers under Section 457 of the Companies Act, 1956, to manage the company's assets and affairs. The key fact is the prior liquidation order by the High Court, which directly impacts the maintainability of the Section 9 petition before the NCLT.
Hon'ble High Court passed an order of…
Hearing of Mumbai Bench…