NCLAT remanded back the matter to the Adjudicating Authority and requested to consider the application of Aster Technologies Pvt.Ltd as per the Provision of IBC.


Quick Summary
The National Company Law Appellate Tribunal (NCLAT) has sent the case involving Aster Technologies Pvt. Ltd. back to the Adjudicating Authority. This follows an earlier order that disposed of Aster Technologies' application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLAT has requested that the application be considered afresh in accordance with the IBC provisions.

Court :
NCLT

Brief :
05.01.2021 This Appeal has been filed by the Appellant-Operational Creditor against Impugned Order dated 09th September, 2020 passed in CP (IB) No. 184/BB/2020 by the Adjudicating Authority (NCLT, Bengaluru Bench). By the Impugned Order, the Adjudicating Authority disposed of the Application under Section 9 of Insolvency and Bankruptcy Code, 2016 (IBC in Short) filed by the Appellant as Operational Creditor with a direction to the Respondent (who was not yet served) to settle the issue or the Appellant would be at liberty to file fresh Company Petition.

Citation :
Company Appeal (AT) (Insolvency) No. 916 of 2020

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