9911796707
TMI Blog2017 (9) TMI 1665X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Respondent/CD: Shri K.K. Muralitharan, Advocate ORDER 1. Under Consideration is a Company Petition filed by Agarwal Coal Corporation Private Limited (in short, 'Petitioner/OperationaI Creditor') against Sun Paper Mill limited (in short, 'Respondent/Corporate Debtor') under section 433 (e) and (f), 434 (i) (a) and 439 (i) (b) of the Companies Act, 1956 before the Hon'ble Madras High Court which has been transferred to this tribunal pursuant to the Companies (Transfer of Pending Proceedings) Rules, 2016. Now, pursuant to the Central Government notification number GSR 119(E) dated 07.12.2017, this petition needs determination as per the provisions of the Insolvency and Bankruptcy Code 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ability by not replying the statutory notice dated 03.07.2014. 6. Shri K.K. Muralitharan, the learned counsel appearing on behalf of the respondent/CD vehemently opposed the contentions of Petitioner/OC and submitted that the instant petition is false, vexatious and not maintainable. He further submitted that he does not want to go into merits of this case but wants to oppose the same on technical aspect in view of the MCA notification dated 29.06.2017. 7. The learned counsel for the Respondent has drawn the attention of this Adjudicating Authority to the MCA notification no. GSR 732(E) dated 29.06.2017 whereby proviso to Rule 5 of the Companies (Transfer of Pending Proceedings) Amendment Rules, 2017 stipulates that re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the contentions raised before this bench by the respondent. 12. After hearing submissions of the counsel for the petitioner and respondent and having perused the record, it is clear that the petitioner has filed the affidavit and bank statement on 17.07.2017 and 18.07.2017 respectively. 13. With regard to the above judgements relied by the counsel for petitioner, I am of the opinion that the above referred judgement is not applicable in support of the contentions of the petitioner as the facts and circumstances of this present case are otherwise and also, the said notification is still valid and holds good in eyes of law. 14. Therefore, the instant petition stands ABATED for non- compliance of the provisions in v ..... X X X X Extracts X X X X X X X X Extracts X X X X
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