2025 (4) TMI 629

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....r. Shri Bhuwan Gautam - Govt. Advocate for the respondent / State. ORDER Petitioner has filed the present petition seeking direction to the respondents to consider the representation regarding the pending petition under the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as "IBC, 2016") before the National Company Law Tribunal, Indore (hereinafter referred as "NCLT"). 02. The petiti....

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....02 (hereinafter referred as "SARFAESI Act"). The Axis Bank approached the Sub Divisional Magistrate in order to seek the assistance to secure the possession of the mortgaged property of the petitioner. Vide order dated 28.06.2024, the Additional Collector passed an order for taking possession with the help of Tehsildar. In compliance of the aforesaid order, the Tehsildar Ratlam issued a notice to ....

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....e to have effect on the date of admission of such application and during the interim-moratorium period any legal action or proceeding pending in respect of any debt shall be deemed to have been stayed. The creditors of the debt shall not initiate any legal action or proceeding in respect of the debt. 06. Shri Agrawal, learned senior counsel further submits that the definition of debtor under Sect....

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.... to any person and "corporate person" is defined in sub-section (7) of Section 3, it means a company under the Companies Act, 2013, a limited liability partnership under the Limited Liability Partnership Act, 2008 or any other person incorporated with limited liability under any law. Therefore, in this definition the proprietorship firm is not included. The M/s Rainbow Sales and M/s Kothari Enterp....