2019 (1) TMI 1940 - Tri - Insolvency and Bankruptcy

Maintainability of petition - HELD THAT - In view of the admission of the petition and appointment of Provisional/ Official Liquidator no further proceeding can continue in this petition before this tribunal as there cannot be any two processes in respect of the same corporate debtor. Accordingly the petition is disposed of leaving the parties to file their claim before the Official Liquidator. Petition disposed off.

Summary

The National Company Law Tribunal New Delhi Principal Bench disposed of a petition as the matter was already admitted by the Hon'ble High Court of Delhi and an Official Liquidator appointed in Company Petition No. 814 of 2016. No further proceedings can continue in this petition as there cannot be two processes for the same corporate debtor. Parties are to file their claims before the Official Liquidator.