Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
Press 'Enter' after typing page number.
Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Press 'Enter' after typing page number.
Press 'Enter' after typing page number.
Don't have an account? Register Here
Press 'Enter' after typing page number.
Issues: Whether, for an application under Section 95 of the Insolvency and Bankruptcy Code, 2016, the date of filing is the date of e-filing/presentation before the Registry or the later date on which the Registry registers and numbers the application, and whether the earlier filing by one creditor triggers the interim moratorium despite subsequent registration of another creditor's application.
Analysis: The applicable procedural framework under the National Company Law Tribunal Rules, 2016 treats an application as filed when it is presented in the Registry. The Tribunal relied on its earlier three-member decision holding that filing is complete on e-filing/presentation and that numbering by the Registry is only a ministerial act. It also noted that interim moratorium under Section 96 follows the filing of the application, and that the statutory scheme requires certainty about the date from which legal consequences begin. The application filed by IFCI was found to be a complete application, and the later registration of another creditor's application did not alter the earlier filing date. The contrary view expressed in the Kerala High Court decision was not accepted because it did not consider the Tribunal's binding earlier ruling.
Conclusion: The filing date was the date of e-filing by IFCI, not the later date of registration. The interim moratorium commenced from that filing, the impugned order was not without jurisdiction, and the appeal failed.