TMI Blog2017 (11) TMI 944X X X X Extracts X X X X X X X X Extracts X X X X ..... before treating it as an application under Section 9 of the ‘I&B Code’ and admitting the case, we hold that the application was fit to be rejected. The Adjudicating Authority having failed to notice the same, we set aside the impugned order dated 16th August, 2017. In effect, order (s), if any, passed by Ld. Adjudicating Authority appointing ‘Interim Resolution Professional’, declaring morator ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assed by the Adjudicating Authority (National Company Law Tribunal), Chennai Bench, Chennai in TCP/232/(IB)/CB/2017 whereby and whereunder on the Transfer Petition under Sections 433(e)(f), 433(i)(a) and 439(i)(b) of the Companies Act, 1956, the Adjudicating Authority treated the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as I B Code ), admitt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Code within 60 days, nor proposed the name of the Interim Resolution professional . He further submits that the parties have already settled the dispute. 4. On notice, the Respondent- Operational Creditor has appeared and filed reply. It has not been disputed that the provisions of the I B Code were not followed in letter and spirit. Nothing on records suggest that notice under Section 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Professional , declaring moratorium, freezing of account, if any, and all other order (s) passed by Adjudicating Authority pursuant to impugned order and action, if any, taken by the Interim Resolution Professional , including the advertisement, if any, published in the newspaper calling for applications all such orders and actions are declared illegal and are set aside. The application preferr ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
