The case involves an application (CA-198(PB)/2019) before the National Company Law Tribunal (NCLT), New Delhi, Principal Bench. ICICI Bank Ltd. is the applicant/petitioner, and Gwalior Bypass Project Ltd. is the respondent. The order is under Section 7 of the Insolvency & Bankruptcy Code, 2016.
ICICI Bank Ltd. filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Gwalior Bypass Project Ltd. The application was heard by the National Company Law Tribunal (NCLT), New Delhi, Principal Bench. The NCLT, presided over by Chief Justice (RTD.) M. M. Kumar and SH. S. K. Mohapatra, found the application to be wholly misconceived. The orders were already reserved and likely to be pronounced in all the matters. The court also noted that there may not be a common Resolution Professional for one holding company and its subsidiary. Ultimately, the application was dismissed.
Sign in to view the parties.
The order was d…
The case involves an application (CA-198(PB)/2019) before the National Company Law Tribunal (NCLT), New Delhi, Principal Bench. ICICI Bank Ltd. is the applicant/petitioner, and Gwalior Bypass Project Ltd. is the respondent. The order is under Section 7 of the Insolvency & Bankruptcy Code, 2016.
ICICI Bank Ltd. filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Gwalior Bypass Project Ltd. The application was heard by the National Company Law Tribunal (NCLT), New Delhi, Principal Bench. The NCLT, presided over by Chief Justice (RTD.) M. M. Kumar and SH. S. K. Mohapatra, found the application to be wholly misconceived. The orders were already reserved and likely to be pronounced in all the matters. The court also noted that there may not be a common Resolution Professional for one holding company and its subsidiary. Ultimately, the application was dismissed.
The order was d…