2019 (6) TMI 1517 - Tri - Insolvency and Bankruptcy

Maintainability of petition - initiation of CIRP - HELD THAT - In view of the order passed admitting the petition against the same Corporate Debtor the present IB petition becomes infructuous. However the Operational Creditor is at liberty to file their claim before the RP. Petition disposed off.

Summary

The Tribunal at the National Company Law Tribunal, Ahmedabad, ruled that the IB petition is infructuous due to a previous order admitting a petition against the same Corporate Debtor. The Operational Creditor can file their claim before the RP. The 1B Petition is disposed of accordingly.