Astra Offshore Sdn Bhd, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Swiber Offshore (India) Pvt. Ltd., the corporate debtor. The petition was filed without the required certificate from the Financial Institution confirming the non-payment of the operational debt by the corporate debtor, as mandated by Section 9(2)(c) of the Code. The bench had previously granted time to furnish the document, but the counsel failed to do so.
Astra Offshore Sdn Bhd, an operational creditor, initiated insolvency proceedings against Swiber Offshore (India) Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed without the mandatory certificate from the Financial Institution confirming the non-payment of the operational debt. The operational creditor's counsel argued that obtaining the certificate was impossible because the creditor's bank was located outside India. The court noted that the certificate is a mandatory requirement under Section 9(3)(c) of the Code.
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The order was h…
Astra Offshore Sdn Bhd, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Swiber Offshore (India) Pvt. Ltd., the corporate debtor. The petition was filed without the required certificate from the Financial Institution confirming the non-payment of the operational debt by the corporate debtor, as mandated by Section 9(2)(c) of the Code. The bench had previously granted time to furnish the document, but the counsel failed to do so.
Astra Offshore Sdn Bhd, an operational creditor, initiated insolvency proceedings against Swiber Offshore (India) Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed without the mandatory certificate from the Financial Institution confirming the non-payment of the operational debt. The operational creditor's counsel argued that obtaining the certificate was impossible because the creditor's bank was located outside India. The court noted that the certificate is a mandatory requirement under Section 9(3)(c) of the Code.
The order was h…