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TMI Blog2017 (11) TMI 1945X X X X Extracts X X X X X X X X Extracts X X X X ..... of Transfer Rules, 2016. In such circumstances, in view of proviso to Rule 5 of the Transfer Rules, the application under Sections 433 and 434 of the Companies Act, 1956 stands abated. - Company Appeals (AT) (Insolvency) Nos. 229 and 230 of 2017 - - - Dated:- 28-11-2017 - S.J. Mukhopadhaya, J. (Chairperson) And Bansi Lal Bhat, J. (Member (J)) For the Appellant : Shalini Kaul, Advocate For the Respondent : Rajendra Beniwal, Advocate ORDER 1. The Appellant-'Corporate Debtor' has challenged the orders dated 1st September 2017 and 29th September 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Chennai, whereby and whereunder the application preferred by the Respondent-M/s. BASF India Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or' has already been paid and settled. Further, for various reasons including serious physical threat to its employees in India, the 'Corporate Debtor' had to vacate its office in mid May 2015 and left India and returned to Russia. However, in spite of that the Respondent issued a legal notice on 19th August, 2015 and on 9th September, 2015 through a lawyer to the Appellant-'Corporate Debtor' office at Chennai, knowing fully well that the Appellant-'Corporate Debtor' had vacated the said office premises and called upon the Appellant to pay the outstanding sum of ₹ 1,98,75,342/-. Thereafter, the Respondent filed a Company Petition under Sections 433 434 of the Companies Act, 1956 before the Hon'ble Hig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rise to the present appeal. Subsequently on 29th September 2017, the Interim Resolution Professional was appointed, which order is also challenged in the present appeals. 7. Learned counsel for the Appellant submitted that no notice under sub-section (1) of Section 8 was issued by Respondent in Form-3 or 4 prior to treating the application as under Section 9 of the 'I B Code' or before the admission. The application was also not filed in the proper format i.e. Form 5, as required under Section 9 of the 'I B Code' read with Rule 6 of the Adjudicating Authority Rules, 2016 in terms of which details of record of default etc. were required to be provided. 8. The aforesaid stand taken by the Appellant has not been disp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the records transferred in accordancewith Rule 7, required for admission of the petition under sections 7, 8 or 9 of the Code, as the case may be, including details of the proposed insolvency professional to the Tribunal within sixty days from date of this notification, failing which the petition shall abate. 2 . All cases where opinion has been forwarded by Board for Industrial and Financial Reconstruction, for winding up of a company to a High Court and where no appeal is pending, the proceedings for winding up initiated under the Act, pursuant to section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 shall continue to be dealt with by such High Court in accordance with the provisions of the Act. 11. From th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... resolution professional (if proposed) Part IV- particulars of operational debt Part V- particulars of operational debt [documents, records and evidence of default] As per the instructions, the following documents are required to be attached: Annex I Copy of the invoice/demand notice as in Form 3 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 served on the Corporate debtor. Annex II Copies of all documents referred to in this application. Annex III Copy of the relevant accounts from the banks/financial institutions maintaining accounts of the operational creditor confirming that there is no payment of the relevant unpaid operational debt by the operational debtor, if available. Annex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 8 of the I B Code' and on receipt of service of such notice if there is a debt and default and no dispute is raised, it will be open to the Respondent to file fresh application under Section 9 of the I B Code' after ten days of service of such notice. It may be decided by the Adjudicating Authority uninfluenced by the Orders dated 1st September, 2017 and 21st September, 2017 and the judgment passed by this Appellate Tribunal. 19. In effect, order(s) passed by Adjudicating Authority appointing 'Interim Resolution Professional', declaring moratorium, freezing of account and all other order(s) passed by Adjudicating Authority pursuant to impugned order and action, if any, taken by the 'Interim Resolution Professio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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