The case pertains to CP(IB) No. 553/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The Ld. Counsel for the workers union is present, but nobody represented the Operational Creditor or the Corporate Debtor. The counsel for the workers union brought to the court's notice an earlier order of admission in CP(IB) No. 466/KB/2018 dated 2018-05-15, indicating that the same corporate debtor is already under a resolution process.
The case involves CP(IB) No. 553/KB/2018. The Ld. Counsel for the workers union was present during the hearing. Neither the Operational Creditor nor the Corporate Debtor were represented. The workers union's counsel informed the court of a prior order of admission, CP(IB) No. 466/KB/2018 dated 2018-05-15, which placed the same corporate debtor under a resolution process. This fact is crucial because Section 11 of the IBC prohibits initiating new proceedings against a corporate debtor already undergoing resolution.
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Hearing held…
Order of admission in CP(IB) No.…
The case pertains to CP(IB) No. 553/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The Ld. Counsel for the workers union is present, but nobody represented the Operational Creditor or the Corporate Debtor. The counsel for the workers union brought to the court's notice an earlier order of admission in CP(IB) No. 466/KB/2018 dated 2018-05-15, indicating that the same corporate debtor is already under a resolution process.
The case involves CP(IB) No. 553/KB/2018. The Ld. Counsel for the workers union was present during the hearing. Neither the Operational Creditor nor the Corporate Debtor were represented. The workers union's counsel informed the court of a prior order of admission, CP(IB) No. 466/KB/2018 dated 2018-05-15, which placed the same corporate debtor under a resolution process. This fact is crucial because Section 11 of the IBC prohibits initiating new proceedings against a corporate debtor already undergoing resolution.
Hearing held…
Order of admission in CP(IB) No.…