2019 (3) TMI 880

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....ber (Judicial) For The Appellant : Mr. Rajeev Ranjan, Senior Advocate assisted by Mr. Ramanjit Singh and Mr. Upender Singh, Advocates For The Respondent : Mr. Arjun Sanjay, Advocate And Mr. Rohit Rathi, Advocate for R.P. ORDER  Respondent - 'M/s. Sarvottam Rolling Mills (P) Ltd.' filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for short, 'I&B Code') for ....

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....99 of 2018', wherein Hon'ble Supreme Court observed as follows: "52. It is clear that once the Code gets triggered by admission of a creditor's petition under Sections 7 to 9, the proceeding that is before the Adjudicating Authority, being a collective proceeding, is a proceeding in rem. Being a proceeding in rem, it is necessary that the body which is to oversee the resolution process must be c....

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....sel appearing on behalf of the respondent - 'M/s. Sarvottam Rolling Mills (P) Ltd. ('Operational Creditor') accepts that the parties have settled the matter. Mr. Rohit Rathi, learned counsel appearing on behalf of the 'Resolution Professional' also accepts that the 'Committee of Creditors' had not been constituted before the parties settled the matter. He further submits that a sum or Rs. 8.37 Lak....