This court disposed of a Corporate Insolvency Resolution Process petition as it was found infructuous because the corporate debtor was already undergoing CIRP in another financial institution.
The present Company Petition is disposed of as infructuous along with all pending applications.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH
COURT III
CORAM: SHRI H. V. SUBBA RAO, MEMBER (J) SMT ANURADHA SANJAY BHATIA, MEMBER (T)
ORDER SHEET OF THE HEARING OF MUMBAI BENCH OF THE NATIONAL COMPANY LAW TRIBUNAL ON 15.11.2022
NAME OF THE PARTIES: ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED
Vs.
VIJAY GROUP HOUSING PRIVATE LIMITED
SECTION 7 OF INSOLVENCY AND BANKRUPTCY CODE, 2016
ORDER
Counsel for the Petitioner, Ms. Aparna Wagle and counsel for the Corporate Debtor, Mr. Rajeev Mahunta, Mr. Vaibhav Mahajan and Mr. Nikhil Aswani are present through virtual hearing.
C.P. 759/2022
Counsel appearing on both sides brought to the notice of this Bench that the Corporate Debtor is already undergoing CIRP before Court-II in another Company Petition bearing no. 862 of 2019 vide admission order dated 30.09.2022.
In view of the above admission order, the present Company Petition becomes infructuous and disposed of as well as all pending applications, if any, granting liberty to the Financial Creditor to put forth their claim before the IRP subject to limitation.
Sd/- Sd/ANURADHA SANJAY BHATIA H. V. SUBBA RAO Member (Technical) Member (Judicial) --Rajeev--
H. V. SUBBA RAO Member (Judicial)
2 issues framed by the court
Whether a corporate insolvency resolution process petition remains maintainable when the corporate debtor is already undergoing CIRP in a different petition.
Whether the present petition is infructuous given the earlier admission order.
1 provisions across 1 enactments
Asset Reconstruction Company (India) Limited
Vijay Group Housing Private Limited
H. V. Subba Rao
Anuradha Sanjay Bhatia
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
