An application was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by India Glycols Limited, an operational creditor, against Coromandel Agrico Pvt. Ltd., the corporate debtor.
India Glycols Limited, the operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Coromandel Agrico Pvt. Ltd., the corporate debtor. The application was filed before the Allahabad Bench of the National Company Law Tribunal (NCLT). However, the NCLT had already passed an order in CP (IB) No.228/ALD/2018, admitting the corporate debtor into Corporate Insolvency Resolution Process (CIRP). This prior admission of CIRP rendered the Section 9 application infructuous. The operational creditor was advised to approach the Interim Resolution Professional (IRP) or Resolution Professional (RP) to file their claim. The order also provides a contingency that if the CIRP is set aside, the operational creditor can revive the
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An application was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by India Glycols Limited, an operational creditor, against Coromandel Agrico Pvt. Ltd., the corporate debtor.
India Glycols Limited, the operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Coromandel Agrico Pvt. Ltd., the corporate debtor. The application was filed before the Allahabad Bench of the National Company Law Tribunal (NCLT). However, the NCLT had already passed an order in CP (IB) No.228/ALD/2018, admitting the corporate debtor into Corporate Insolvency Resolution Process (CIRP). This prior admission of CIRP rendered the Section 9 application infructuous. The operational creditor was advised to approach the Interim Resolution Professional (IRP) or Resolution Professional (RP) to file their claim. The order also provides a contingency that if the CIRP is set aside, the operational creditor can revive the
…The order was…
The order…