Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2019 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (6) TMI 906 - AT - Insolvency and BankruptcyAdmissibility of application - Initiation of CIRP - Corporate Debtor - Section 7 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- Learned counsel for the Respondents submits that the counsel for the ‘Corporate Debtor’ appeared on eleven occasions before the Adjudicating Authority thereafter on hearing them the order was passed. So far as the claims of the ‘Operational Creditors’ are concerned, their claim will be considered by the ‘Resolution Professional’ once admitted. Otherwise, they have no right to be heard at the time of admission of the application under Section 7 of the ‘I&B Code’. We are not inclined to interfere with the impugned order dated 1st November, 2018. The Adjudicating Authority is expected to complete the ‘Resolution Process’ in accordance with law within the stipulated period. The ‘Resolution Professional’, the ‘Committee of Creditors’ will co-operate to ensure that the resolution process succeeds. Appeal disposed off.
|