2019 (5) TMI 1827 - AT - Insolvency and Bankruptcy

Maintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - existence of dispute or not - HELD THAT - Appellant submits that pursuant to another application filed under Section 9 of theI B Code by another person Corporate Insolvency Resolution Process has been initiated against M/s. Vijay Home Appliances Ltd. (Corporate Debtor). In view of such development the Appellant is allowed to raise the claim before the Resolution Professional who will consider the claim uninfluenced by the impugned order dated 21st January 2019. Appeal disposed off.

Summary

The Appellant's application under section 9 of the Insolvency & Bankruptcy Code, 2016 was rejected by the Adjudicating Authority. The Appellate Tribunal allowed the Appellant to raise the claim before the Resolution Professional due to another application being filed against the Corporate Debtor. The appeal was disposed of with this decision.