Application Dismissed: Tecpro Systems Limited's Insolvency Proceedings Underway

The National Company Law Tribunal, New Delhi dismissed an application under Section 9 of the Insolvency & Bankruptcy Code against Tecpro Systems Limited as it was already undergoing insolvency proceedings, citing Section 11 (i) of the IBC, 2016.

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The judgment by the National Company Law Tribunal, New Delhi, in 2017 (9) TMI 1846 stated that an application under Section 9 of the Insolvency & Bankruptcy Code was filed to trigger insolvency against the respondent, Tecpro Systems Limited. However, since Tecpro Systems Limited was already undergoing insolvency process, the petition was dismissed as it was barred by Section 11 (i) of the IBC, 2016.

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