TMI Blog2020 (6) TMI 556X X X X Extracts X X X X X X X X Extracts X X X X ..... uidation order has been made is not entitled to make application to initiate 'Corporate Insolvency Resolution Process' under Chapter II. That means, it cannot file any application under section 7 or 9 of the I B Code. Therefore, no application under Chapter II can be filed by the 'Corporate Debtor', which is under Liquidation of which the Appellant is Liquidator. In so far as, sub- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 30th May, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. By the impugned order, the application under section 60(5) of the Insolvency and Bankruptcy Code, 2016 (for short the 'I B Code') preferred by the Liquidator for institution of suit or other legal proceedings on behalf of the 'Corporate Debtor' under Liquidation in the Courts/Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... view of specific prohibition under section 11 of the I B Code, as quoted below:- 11. Persons not entitled to make application.-The following persons shall not be entitled to make an appslication to initiate corporate insolvency resolution process under this Chapter, namely:-- (a) a corporate debtor undergoing a corporate insolvency resolution process; or (b) a corporate debtor having com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot file any application under section 7 or 9 of the I B Code. Therefore, no application under Chapter II can be filed by the 'Corporate Debtor', which is under Liquidation of which the Appellant is Liquidator. In so far as, sub-section (5) of section 33 is concerned, it is subject to section 52. Section 52 relates to right of secured creditor in liquidation proceedings. However, in cas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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