2017 (9) TMI 1610

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....ch vide separate order. Sri Blkki Raveendra Babu, J. Mr. Rashesh Parikh, learned Advocate for Applicant. Mr. Harmish K. Shah, learned Advocate for Respondent. ORDER 1. Aarti Industries Limited, styling itself as 'Operational Creditor', filed this Application under Section 9 of the Insolvency and Bankruptcy Code, 2016 ["IB Code" for short] read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, ("IB Rules" for short) in Form-5 with a request to initiate Corporate Insolvency Resolution Process against Khushbu Vinyl Private Limited, treating it as 'Corporate Debtor'. 2. The facts, that led to the filing of this Application, in brief, are as follows; . 2.1. Applicant herein fil....

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....on are 3.12.2013 and 16.1.2013 and therefore the Application is barred by law of limitation; (b) After withdrawal of CP (IB) No. 59 of 2017 no notice of demand in Form 3 or 4 has been issued and without issuance of such demand notice this second Application CP (IB) No. 91 of 2017 is not maintainable; (c) Even in the earlier Demand Notice issued, no documents as required have been enclosed and therefore the Demand Notice issued prior to the filing of CP (IB) No. 59 of 2017 is not valid; (d) The Applicant did not comply with provisions of Section 9(3)(b) and 9(3)(c) of the Code; (e) The claim based on two Invoices, (i) No. 2829 dated 1.7.2014 for an amount of Rs. 28,704/-, and (ii) No.1757 dated 31.10.2014 for an amount of Rs. 1,1....

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..... It is brought to the notice of this Adjudicating Authority that in view of the order dated 21 st August, 2017 passed by the Special Bench of National Company Law Appellate Tribunal, New Delhi, the Honbie President of the National Company Law Tribunal, New Delhi, was pleased to constitute a Larger Bench for onsidering the points raised in the matters, namely, IB- 1 90(PB)/ 2017 between Union Bank of India vs. Era Infra Engineering Ltd., and No. IB- 1 10(PB)/2017 between Alchemist Asset Reconstruction Co.Ltd., Vs. Tirupati Buildings & Offices Pvt.Ltd., which include about the maintainability of the Applications under the Insolvency Code, during the pendency of winding up proceedings. As can be seen from the Website of National Company Law T....