Supreme Court of India
Forech India Ltd. v. Edelweiss Assets Reconstruction Co. Ltd.
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1 Supreme Court bench has cited this judgment.
What the Court ordered
We are of the view that the NCLT was absolutely correct in applying Section 238 of the Code to an independent proceeding instituted by a secured financial creditor, namely, the Alchemist Asset Reconstruction Company Ltd.
Judgment, page 14
From the headnote
Insolvency & Bankr uptcy Code, 2016 – ss.7, 9, 1 1, 238, 255 and The Eleventh Schedule – Pr oceedings u/ss.7 and 9, if independent of winding up pr ocess pending in High Cour t – W inding up petition filed by the appellant befor e High Cour t, against Respondent No.2-Company , alleging inability to pay dues – Respondent No.1, financial cr editor of the self-same corporate debtor , filed insolvency petition u/s.7 of the 2016 Code befor e National Company Law Tribunal (NCLT) – Petition admitted – Appeal filed by the appellant against the or der – Dismissed by Appellate Tribunal – Plea of
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Where later benches applied it
Of those, 1 relied on
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