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Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Company petition rejected due to strike off, can refile after revival.</h1> The NCLT, New Delhi Principal Bench rejected a petition under Section 433 (e) due to the company being struck off and awaiting revival. Petitioner can ... Maintainability of insolvency proceedings against a struck off company - proceedings under the Insolvency and Bankruptcy Code, 2016 - revival of company - liberty to file fresh petitionMaintainability of insolvency proceedings against a struck off company - revival of company - proceedings under the Insolvency and Bankruptcy Code, 2016 - Insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 cannot be entertained against a company which has been struck off and does not subsist as on date. - HELD THAT: - The Tribunal noted that the Corporate Debtor, Ghaziabad Engineering Co. Ltd., has been struck off by the Registrar of Companies and awaits revival. In view of its non subsisting status, the petition transferred from the High Court under Section 433(e) cannot be entertained at this stage under the Insolvency and Bankruptcy Code, 2016. The Tribunal observed that the existence of the company is a precondition for initiating insolvency proceedings, and therefore the petition is not maintainable while the company remains struck off and revival is pending. The petitioner was, however, permitted to institute a fresh petition after the company is revived and after the decision in the separate pending appeal concerning the company's status is rendered by the Tribunal.Petition rejected at this stage with liberty to file a fresh petition upon revival of the company and after the outcome of the pending appeal regarding the company's status.Final Conclusion: The petition is disposed of as not maintainable while the Corporate Debtor remains struck off; petitioner granted liberty to re file after the company is revived and the related appeal is decided. The National Company Law Tribunal, New Delhi Principal Bench rejected a petition filed under Section 433 (e) as the company in question was struck off by the Registrar of Companies and awaiting revival. The petitioner was given liberty to file a fresh petition once the company is revived. The petition stands disposed of.
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