Disposed

In the matter of Kotson's Private Limited IB-821(ND)-2021

NCLT9 Jun 2023

Case brief

AI extract

What is this about?

The Tribunal disposed of Section 9 application filed by an operational creditor regarding a corporate debtor already undergoing CIRP under Section 7. The Financial Creditor was directed to file a claim with the existing Interim Resolution Professional, with liberty to revive the petition if the CIRP order is set aside or a settlement is reached.

What did the court decide?

The present Application bearing IB821(ND)/2021 is disposed of; Financial Creditor directed to file appropriate claim before the IRP; liberty granted to revive petition if CIRP order set aside or settl

In the matter of Kotson's Private Limited IB-821(ND)-2021 — Insolvency and Bankruptcy | NCLT (2023)

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THE NATIONAL COMPANY LAW TRIBUNAL NEW DELHI COURT-III IB-821(ND)/2021

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Order under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.

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IN THE MATTER OF:

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M/s. NU CORK PRODUCTS PRIVATE LIMITED

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... Applicant/Operational Creditor

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VERSUS

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M/s. KOTSONS PRIVATE LIMITED

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... Respondent/Corporate Debtor

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Order Pronounced On: 09.06.2023

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CORAM:

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SHRI BACHU VENKAT BALARAM DAS, HON'BLE MEMBER (JUDICIAL) SHRI ATUL CHATURVEDI, HON'BLE MEMBER (TECHNICAL)

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APPEARANCES:

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For the Applicant : Mr. Sanyam Jain, Adv. For the Respondent : Mr. Kartikeya Sharma, Adv.

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ORDER

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PER: ATUL CHATURVEDI, MEMBER (TECHNICAL)

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1. In view of the order passed in the matter of IB-761(ND)/2022 titled as State Bank of India vs. M/s. Kotsons Private Limited dated 09.06.2023 that the present Corporate Debtor i.e. M/s. Kotsons Private Limited has already been put under the Corporate Insolvency Resolution Process (“CIRP”) in terms of Section 7 of the IBC, 2016. In the said case Mr. Alok Kaushik having address: G- 105, Sai Baba Apartments, Rohini, Sector-9, Delhi-110085 has already been appointed by this Adjudicating Authority as Interim Resolution Professional (“IRP”). His Email id is [email protected] and [email protected]. His Contact

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M/s. NU Cork Products Private Limited vs. M/s. Kotsons Private Limited IB-821(ND)/2021 Date of Order : 09.06.2023

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Page 1 of 2

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No. is +919811470267. His registration number is IBBI/IPA002/IP-N00253/2017-18/10767.

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1. The Financial Creditor is therefore directed to file an appropriate claim before the said IRP for due Consideration in the CIRP proceedings of the Corporate Debtor i.e., M/s. Kotsons Private Limited. However, liberty is granted to the Financial Creditor to revive the present petition bearing IB-821(ND)/2021 in case the order dated 09.06.2023 passed in the IB-761(ND)/2022 is set aside by the Appellate Courts or the said Corporate Debtor enters into any type of settlement with the Financial Creditor in the matter i.e. IB-761(ND)/2022.

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