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.

Last updated: 22 January 2021

Save Share

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

NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI

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

In the matter of:

Aster Technologies Pvt. Ltd.
Through its Director,
Having office at: A-2, Second Floor,
Shopping Centre, Naraina Industrial Area,
Phase – II, New Delhi – 110028.
CIN: U74899DL1988PTC033500 …Appellant/Operational Creditor.

Versus

Solas Fire Safety Equipment Pvt. Ltd.
Through its Directors,
Having Office at: No. 2, Ist Main Road,
Vasanthnagar, Bangalore,
Karnataka – 560052. …Respondent/Corporate Debtor.

Present:

For Appellant: Mr. Manoranjani Shaw, Advocate.
For Respondent: Mr. Kumar Sudeep, Advocate.

ORDER
(Virtual Mode)

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.

To know more in details find the attachment file

FAQ :

Aster Technologies Pvt. Ltd., as an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had disposed of this application with a direction for the Respondent to settle the issue or for Aster Technologies to file a fresh petition.

The NCLAT decided to remand the matter back to the Adjudicating Authority.

The Adjudicating Authority is requested to consider the application filed by Aster Technologies Pvt. Ltd. as per the provisions of the Insolvency and Bankruptcy Code (IBC).

Aster Technologies Pvt. Ltd. is the Appellant (Operational Creditor), and Solas Fire Safety Equipment Pvt. Ltd. is the Respondent (Corporate Debtor).