Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2018 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 687 - AT - Insolvency and BankruptcyCorporate insolvency process - no notice under sub-section (1) of Section 8 of the ‘I&B Code’ was issued by the Appellant, nor necessary information were furnished as per Rule 5 - Held that:- We are not inclined to interfere with the impugned order dated 26th July, 2017 passed by the Adjudicating Authority, Principal Bench, New Delhi. However, the order passed by the Adjudicating Authority will not come in the way of Appellant to issue notice under sub-section (1) of Section 8 of the ‘I&B Code’ to the ‘Corporate Debtor’, and to file an application under Section 9 of the ‘I&B Code’, if there is a debt and default by the ‘Corporate Debtor’. In such case, the Adjudicating Authority may decide the application uninfluenced by the impugned Order dated 26th July, 2017 and the judgment passed by this Appellate Tribunal. The appeal is dismissed with aforesaid observation. However, in the facts and circumstances of the case, there shall be no order as to cost.
|