2019 (12) TMI 1389

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....Rajesh Shah, Interim Resolution Professional and Sanjay Bhor ORDER Shyam Babu Gautam, Member (T) 1. This is an application filed by Interim Resolution Professional Mr. Rajesh Shah (hereinafter referred to as Applicant) under Section 12A of the Insolvency and Bankruptcy Code, 2016 (hereinafter called "Code") praying for withdrawal of C.P. No. 553 of 2019. 2. Heard the Applicant. It is submitted....

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.... order held as below:-  " 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 consulted before any individual cor....