2019 (5) TMI 1829 - AT - Companies Law

Amendment to Sub-section (2) of Section 60 - Suggestion that a fresh look is required to be given in the matter, to Vishnu Kumar Agarwal Vs. Piramal Enterprises Ltd., 2019 (2) TMI 316 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI , wherein Division Bench of this Appellate Tribunal held that for the same claim once application under Section 7 is admitted, other application against the Guarantor or Principal Borrower will not be maintainable. HELD THAT - that a fresh look is required to be given in the matter, to Vishnu Kumar Agarwal Vs. Piramal Enterprises Ltd., Company Appeal (AT) Nos. 346 and 347 of 2018 deiced on 8th January, 2019 , wherein Division Bench of this Appellate Tribunal held that for the same claim once application under Section 7 is admitted, other application against the Guarantor or Principal Borrower will not be maintainable Post the case for admission on 25th July, 2019.

Summary

The National Company Law Appellate Tribunal in New Delhi issued an order regarding the maintainability of multiple applications under Section 7. The Appellant argued for both applications to be maintainable before the same Adjudicating Authority. Notice was issued to the Respondent for a hearing on 25th July, 2019.