2019 (7) TMI 2016

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.... Authority, (National Company Law Tribunal), Kolkata Bench restoring petition u/s. 9 of the Insolvency & Bankruptcy Code, 2016 ('I&B' Code) filed by the S.S. Enterprises' ('Operational Creditor'). 2. The brief facts of the case is that a 'Corporate Insolvency Resolution Process' was initiated against 'Amrit Feeds Limited' ('Corporate Debtor') by order dated 15th January, 2019 passed in CP (IB) No. 333/KB/2018 on an application u/s. 9 preferred by 'Agarwal Industries Pvt. Ltd.' 3. Subsequently, another application u/s. 9 of the Insolvency & Bankruptcy Code, 2016 ('I&B' Code) was preferred by Respondent 'S.S. Enterprises', ('Operational Creditor') against 'A....

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....im before the 'Interim Resolution Professional' appointed pursuant to order passed in CP (IB) No. 333/KB/2018. 7. The Respondent - 'S.S. Enterprises' having come to know that the 'Corporate Insolvency Resolution Process' as was initiated against 'Amrit Feeds Limited' ('Corporate Debtor') has been closed due to settlement allowed by this Appellate Tribunal on 11th February, 2019 brought the same to the notice of the Adjudicating Authority by filing an application - MA 302/KB/2019 with prayer to restore the Company Petition No. CP (IB) No. 1238/KB/2018 which has been restored by the Adjudicating Authority, Kolkata Bench by impugned order dated 10th May, 2019 and reads as follows:- ORDER "....

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....t 'S.S. Enterprises' ('Operational Creditor') had filed the application u/s. 9 against the 'Corporate Debtor'. (ii) The Petition filed by the Respondent - 'S.S. Enterprises' ('Operational Creditor') was made infructuous only because the 'Corporate Insolvency Resolution Process' was initiated against 'Amrit Feeds Limited' ('Corporate Debtor'). Subsequently, the promoters of the 'Amrit Feeds Limited' ('Corporate Debtor') reached settlement with 'Agarwal Industries Pvt. Ltd.' which is one of the 'Operational Creditor', but suppressed the fact and did not brought to the notice of this Appellate Tribunal, that the 'Corporate Debtor' h....