The appeals before the Supreme Court arose from a judgment and order dated 06.08.2021 passed by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT had rejected applications for withdrawal of company petitions related to Corporate Insolvency Resolution Process (CIRP) based on settlements reached before the constitution of the Committee of Creditors (CoC). The appellant, Kamal K. Singh, filed appeals against this order.
Kamal K. Singh filed appeals against the order of the National Company Law Tribunal (NCLT), Mumbai Bench, dated 06.08.2021. The NCLT had rejected applications filed by the respondent no.1 under Rule 11 of the National Company Law Tribunal Rules, 2016, seeking withdrawal of company petitions and setting aside the initiation of Corporate Insolvency Resolution Process (CIRP). These applications were based on settlements between the parties before the constitution of the Committee of Creditors (CoC). The Supreme Court noted that the CoC had not been constituted. The applicant-respondent no.1 had filed the applications before the NCLT under Rule 11 of the NCLT Rules for withdrawal of company petition(s) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016
…Sign in to view the parties.
The National Company Law Tribunal (NCLT),…
The Supreme Court allowed the appeals, set…
The appeals before the Supreme Court arose from a judgment and order dated 06.08.2021 passed by the National Company Law Tribunal (NCLT), Mumbai Bench. The NCLT had rejected applications for withdrawal of company petitions related to Corporate Insolvency Resolution Process (CIRP) based on settlements reached before the constitution of the Committee of Creditors (CoC). The appellant, Kamal K. Singh, filed appeals against this order.
Kamal K. Singh filed appeals against the order of the National Company Law Tribunal (NCLT), Mumbai Bench, dated 06.08.2021. The NCLT had rejected applications filed by the respondent no.1 under Rule 11 of the National Company Law Tribunal Rules, 2016, seeking withdrawal of company petitions and setting aside the initiation of Corporate Insolvency Resolution Process (CIRP). These applications were based on settlements between the parties before the constitution of the Committee of Creditors (CoC). The Supreme Court noted that the CoC had not been constituted. The applicant-respondent no.1 had filed the applications before the NCLT under Rule 11 of the NCLT Rules for withdrawal of company petition(s) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016
…The National Company Law Tribunal (NCLT),…
The Supreme Court allowed the appeals, set…