This summary concerns the maintainability of a fresh application ...

Maintainability of fresh application under IBC questioned after earlier dismissal.

Case Laws Insolvency and Bankruptcy

September 2, 2024

This summary concerns the maintainability of a fresh application u/s 94 of the Insolvency and Bankruptcy Code. The appellant had filed an application u/s 94 in 2020, which was dismissed by the adjudicating authority on 01.02.2024 without granting liberty to file a fresh petition. The appellant claimed liberty to refile based on an order dated 28.02.2024, where the adjudicating authority permitted withdrawal of an IA with liberty to refile u/s 94(1). However, the adjudicating authority did not express any opinion on the maintainability of the fresh application. The NCLAT held that since no liberty was granted in the 01.02.2024 order, the adjudicating authority did not err in examining the maintainability of the fresh application filed on 29.02.2024. Consequently, the NCLAT dismissed the appeals challenging the adjudicating authority's order dated 17.05.2024, which had rejected the fresh application as unmaintainable.

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This summary concerns the maintainability of a fresh application ...

Maintainability of fresh application under IBC questioned after earlier dismissal.

Case Laws Insolvency and Bankruptcy

September 2, 2024

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