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TMI Blog2017 (10) TMI 462X X X X Extracts X X X X X X X X Extracts X X X X ..... igh Court/Official Liquidator appointed by it and not before this Tribunal. The Petitioner is “directed to approach the Official Liquidator with the claim as made in the application, as this Tribunal is precluded from considering the Corporate Insolvency Resolution Process as sought to be initiated by the Petitioner based on amount claimed to be in default against the 'Corporate Debtor'. - NO. (IB) -187 (ND)/2017 - - - Dated:- 7-9-2017 - MR. R. VARADHARAJAN, J. For The Petitioner : Rishi Sood, Adv. For The Respondent : Rajesh Bohra and Aditya Narayan ORDER Order delivered by : Shri R. VARADHARAJAN Vinod Cotton Corporation representing itself to be an 'Operational Creditor' under the provisions of Insolvenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quently the said notice being withdrawn and fresh notice being sent on 22.2017. On receipt of the notice of demand, the 'Corporate Debtor' has also replied to the same wherein a sum of ₹ 1,89,87,747/- as on 31.3.2012 is stated to be in debit balance vis-a-vis the 'Operational Creditor' in its books. 2. In relation to the Application, it is seen that the 'Corporate Debtor' has filed a reply raising preliminary objections in relation to the non-compliance of the provisions of Section 9 of IBC, 2016. Further, it is also contended that the amount of debt as claimed by the 'Operational Creditor' is time barred and there is no dispute in relation to the amount owed as between 'Operational Creditor' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idered by the Hon'ble High Court of Delhi. 4. Upon a reference to the above said Notification as cited by the Ld. Counsel for the 'Corporate Debtor', the following position emerges: That in all cases where opinion has been forwarded by Board for Industrial and Financial Reconstruction for winding up of a company to the High Court and where no appeal is pending and proceedings for winding up initiated under the Act pursuant to Section 20 of the Sick Industrial Companies (Special Provisions) Act, 1995 shall continue to be dealt by the said High Court in accordance with the provisions of the Act. The 'Corporate Debtor' has annexed two additional affidavits enclosing the order passed by the BIFR dated 28.5.2010 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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