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TMI Blog2018 (12) TMI 1847X X X X Extracts X X X X X X X X Extracts X X X X ..... tion Company Ltd., in such case, the Adjudicating Authority will decide the question uninfluenced by the observations made in the impugned order. If M/s Mandhana Industries Ltd. through its present proprietor files any application under Section 7 or Section 9 of the I B Code against M/s Instyle Exports Pvt. Ltd., the Adjudicating Authority will decide the matter uninfluenced by the observations made in the impugned order. Appeal disposed off. - Company Appeal (AT) (Insolvency) No. 283 of 2018 with Company Appeal (AT) (Insolvency) No. 642 of 2018 - - - Dated:- 7-12-2018 - Justice S. J. Mukhopadhaya] Chairperson And [Justice Bansi Lal Bhat] Member (Judicial) Mr. Pankaj Jain, Mr. Sagar Bansal and Ms. Dhriti Sarin, Ms. Pooja Mah ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pellant submits that the Corporate Debtor is not disqualified to file an application under Section 7 or 9 to initiate Corporate Insolvency Resolution Process against its own debtor. The Adjudicating has failed to notice the same as Section 11 applies only on the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor i.e. Corporate Debtor represented by the Resolution Professional. It is not applicable in respect to any third party Corporate Debtor of which the present Corporate Debtor (represented by the Resolution Professional) is either Financial Creditor or Operational Creditor. 3. Learned counsel appearing on behalf of IL FS Engineering and Construction Company Ltd. who is the Corporate Debtor in respect t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en preferred by Ms. Charu Desai, Resolution Professional of M/s Mandhana Industries Ltd. against order dated 30th August, 2018 passed in Company Petition No. (IB)-301(ND)/2018 by the Adjudicating Authority (National Company Law Tribunal), New Delhi (Court No.IV), wherein similar observations has been made by the Adjudicating Authority as made in Company Appeal (AT) (Insolvency) No. 283 of 2018 and held that the Corporate Insolvency Resolution Process against M/s Instyle Exports Pvt. Ltd. by M/s Mandhana Industries Ltd. (Corporate Debtor) against whom Corporate Insolvency Resolution Process was pending is not maintainable. In this appeal also it is informed that period of 270 days has been completed and now Resolution Plan has been approved. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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