Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2019 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (1) TMI 1744 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL NEW DELHIMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - failure to issue notice before admission of application u/s 9 of IBC - violation of principles of natural justice - HELD THAT:- In the present case admittedly no notice was issued by the Adjudicating Authority to the ‘Corporate Debtor’ before admitting the application under Section 9 of the I&B Code. For the said reason an order cannot be upheld having passed in violation of principles of natural justice as already held in M/S. STARLOG ENTERPRISES LIMITED VERSUS ICICI BANK LIMITED [2017 (7) TMI 74 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL]. The Adjudicating Authority having failed to issue any notice to the ‘Corporate Debtor’ before admission of the application under Section 9, it prejudiced the ‘Corporate Debtor’, who could have shown pre-existence of dispute and thereby with a request to dismiss the application - The ‘Resolution Professional’ has filed its affidavit, similar plea has been taken as 1st Respondent has taken but as ‘Resolution Professional’ has no role for admission of Section 9, it is not open to him to support or oppose one of the party on the question of fact except to dispute or admit one or other fact. The application preferred by the 1st Respondent under Section 9 of the I&B Code is dismissed.
|